The rally is believed to be on the back of a Rs 2,000 crore incentive allocation for UPI and RuPay in Budget 2026. This is 4.6X the allocation made by the government in the Budget 2025.
Commenting on the development, Anup Agarwal, Co-founder at Kiwi, said the move reinforces the importance of a sustainable digital payments ecosystem. “As UPI continues to scale across transactions and use cases, the role of NPCI in maintaining interoperability, reliability, and low-cost access remains central. Sustained incentives are critical to preserving this affordability while enabling responsible innovation across the ecosystem,” he added.
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At Kiwi, we see this as a strong foundation for layering transparent and responsible credit on top of trusted payment rails to improve access and affordability for everyday consumption, Agarwal said.
Though the BE of FY27 is lower than the revised estimates (RE) of Rs 2,196 crore.
It was Finance Minister Nirmala Sitharaman’s ninth consecutive Union Budget.
This was only the second instance in the history of Independent India in which stock markets were open for trading. The last time they were open on a Sunday was February 28, 1999, under the Atal Bihari Vajpayee government.
The financial services technology platform reported a consolidated net profit of Rs 225 crore in the third quarter. This compares with a loss of Rs 208 crore in the year-ago period. On a sequential basis, profit jumped 971% from Rs 21 crore posted in the preceding September quarter.
Revenue from operations in the reporting period increased 20% YoY to Rs 2,194 crore. On a sequential basis, revenues improved 6% quarter-on-quarter.
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