Yes Bank shares touched a day high of Rs 24.10 after new UPI merchant fee rules opened up a fresh revenue stream for the bank.

Starting 15 October, merchants will have to pay a small charge, known as the Merchant Discount Rate or MDR, on UPI payments above Rs 2,000.

This charge will be capped at Rs 300 and will not affect customers, who can continue using UPI for free.

Until now, UPI transactions carried no such fee for merchants, so this marks a real shift in how the payment system earns money.

Yes Bank stands out here because it handles the backend UPI infrastructure for several digital payment platforms.

That means a large chunk of daily UPI transactions actually flow through its systems, putting it in a strong position to earn a share of this new fee pool once it kicks in.

There has been other news around the bank too. Just a day earlier, Yes Bank informed the exchange that its Chief Vigilance Officer, Binu Soman, has stepped down to pursue other opportunities, with his exit taking effect this week.

On the earnings side, the bank’s June quarter profit rose 32.54% year on year to Rs 1,071.80 crore, helped by stronger core income from lending, even though profit dipped slightly compared to the previous quarter.

The stock has cooled off a bit since hitting its early high. As of 14:06 pm, Yes Bank shares were trading at Rs 23.45 on the NSE, up 1.65% or Rs 0.38 for the day. The stock has gained close to 9% so far this year.

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