JPMorgan Profits Fall Amid Rate Hikes; India Delays Digital Payment Fees

JPMorgan Chase has reported a dip in third-quarter profits, signaling a potential impact of rising interest rates on major financial institutions. This comes as the automotive finance sector faces delays in compensation payouts for consumers, with payments now expected in the next year.

In parallel, India's National Payments Corporation (NPCI) has postponed the introduction of a 0.4% fee on its Unified Payments Interface (UPI) network. The decision, initially slated for October 15, was made in response to pushback from retailers and to accommodate the ongoing festive shopping season, highlighting the sensitivity of digital payment policies to market and consumer pressures.