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| Scheme Name | 1-Year Return | Invest Now | Fund Category | Expense Ratio |
|---|---|---|---|---|
| Axis Nifty 50 Index Fund | +32.80% | Invest Now | Equity: Large Cap | 0.12% |
| Axis Nifty 100 Index Fund | +38.59% | Invest Now | Equity: Large Cap | 0.21% |
| Axis Nifty Next 50 Index Fund | +71.83% | Invest Now | Equity: Large Cap | 0.25% |
| Axis Nifty 500 Index Fund | — | Invest Now | Equity: Flexi Cap | 0.10% |
| Axis Nifty Midcap 50 Index Fund | +46.03% | Invest Now | Equity: Mid Cap | 0.28% |
Originally set for 2021, the guidelines were delayed to this year after resistance from service providers. The rules impose a 30% volume cap on third-party UPI apps (TPAPs), though UPI apps offered by banks are exempt.
“Considering various factors, the timeline for compliance of existing TPAPs who are exceeding the volume cap, is extended by two years i.e. till December 31, 2026,” NPCI said in a statement.
The move is seen as beneficial for dominant players like PhonePe and Google Pay, which together account for more than 85% of UPI transactions by both volume and value. Out of over 75 UPI apps, only these two firms hold a significant market share.
In 2024, 17 new TPAPs, including Aditya Birla Capital Digital and Flipkart, have launched their UPI offerings. These new entrants are focusing on niche markets rather than competing in the mass market. The NPCI, an umbrella organization overseeing retail payments in India, is supported by the Reserve Bank of India and the Indian Banks’ Association.
Also Read : WhatsApp Pay to be available to entire user base as NPCI lifts onboarding limit
