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UPI

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17 Stories Indexed

Last Updated: Just Now

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Banking, Fintech & Insurance 16 Oct 2026, 01:14 PM IST

IIT Bombay Flags MDR Risk to UPI Trust, Urges Rationalised Fee Framework

An IIT Bombay report has warned that public trust in UPI could be weakened if the proposed merchant discount rate framework is implemented without recalibration. The study argues that any fee structure must preserve UPI’s low-friction appeal and avoid triggering negative sentiment among users, merchants and the wider digital payments ecosystem.

By RDU Global Wire5 min read

Banking, Fintech & Insurance06 Oct 2026, 11:01 AM IST

Finance Ministry Sees No Cash Surge After UPI MDR Levy, Sources Say

The Finance Ministry does not expect the proposed merchant discount rate on select UPI transactions to trigger a meaningful shift back to cash, according to sources familiar with the matter. Officials believe the impact will be limited because only a small share of total UPI volume will be affected, while RuPay debit card transactions will remain exempt and free for users.

5 min readRead →

Banking, Fintech & Insurance05 Oct 2026, 06:41 PM IST

Finance Ministry Sees No Cash Surge After UPI MDR Levy, Sources Say

The Finance Ministry does not expect a meaningful shift back to cash after the proposed merchant discount rate on select UPI transactions, according to sources familiar with the matter. Officials believe the impact will be limited because only a small share of UPI volumes will be affected, while RuPay debit card transactions will remain free and the government will closely monitor any pass-through of charges to consumers.

5 min readRead →

Banking, Fintech & Insurance04 Oct 2026, 09:38 PM IST

Government Rules Out UPI Fee Rollback as 0.4% MDR Stays on Large Merchant Payments

The government will proceed with a 0.4% merchant discount rate on UPI payments above Rs 2,000, effective October 15, while keeping person-to-person transfers and small-value transactions free. The move is aimed at preserving the financial sustainability of the UPI ecosystem, but it has drawn criticism from opposition parties and is likely to reignite debate over the cost of digital payments for businesses.

4 min readRead →

Banking, Fintech & Insurance04 Oct 2026, 07:52 PM IST

UPI Merchant Fees Could Reach 47.2 bps After GST Under New Framework

India’s new UPI merchant fee framework could translate into an effective cost of 47.2 basis points for merchants once GST is added, sharpening the debate over payments economics in the country’s fast-growing digital commerce ecosystem. The levy, set to take effect on October 15, imposes a 0.4% MDR on person-to-merchant UPI transactions above Rs 2,000, capped at Rs 300 for payments of Rs 75,000 and above, while consumers remain exempt.

5 min readRead →

Banking, Fintech & Insurance04 Oct 2026, 03:20 PM IST

Axis Bank Seeks to Double Rs 8,688 Crore Data Centre Exposure as AI Demand Accelerates

Axis Bank is preparing to significantly expand its lending to India’s data centre sector, with exposure projected to double from Rs 8,688 crore over the next three years, according to the latest market context. The move reflects a broader banking shift toward financing the infrastructure underpinning artificial intelligence, cloud computing and digital services, even as lenders weigh concentration risk, long project tenors and execution challenges.

4 min readRead →

Banking, Fintech & Insurance04 Oct 2026, 12:32 PM IST

Government Rules Out UPI Fee Rollback as 0.4% MDR Stays on Large Merchant Payments

India will proceed with a 0.4% merchant discount rate on UPI payments above Rs 2,000, effective October 15, while person-to-person transfers and smaller transactions remain free. The move is aimed at supporting the long-term sustainability and security of the UPI ecosystem, but opposition parties have criticised the decision as a burden on digital commerce.

5 min readRead →

Banking, Fintech & Insurance04 Oct 2026, 02:44 AM IST

UPI MDR Could Reach 47.2 bps for Merchants After GST, Raising Costs on High-Value Digital Payments

India’s new UPI merchant fee framework could translate into an effective cost of about 47.2 basis points for businesses once GST is included, according to the structure announced for person-to-merchant transactions above Rs 2,000. The charge, set at 0.4% MDR and capped at Rs 300 for transactions of Rs 75,000 and above, takes effect from October 15, while consumers will not be charged.

5 min readRead →

Banking, Fintech & InsuranceJust now (08:08 PM IST)

Government Rules Out UPI Fee Rollback as 0.4% MDR Stays on Large Merchant Payments

India will impose a 0.4% merchant discount rate on UPI payments above Rs 2,000 from October 15, while person-to-person transfers and small-value transactions remain free. The move is designed to support the long-term safety and sustainability of the UPI ecosystem, but it has already drawn sharp criticism from opposition parties and business users.

5 min readRead →

Banking, Fintech & InsuranceJust now (04:37 PM IST)

Delhi Traders Turn to Cash as New UPI Fee Raises Cost Pressure

Traders in Delhi are preparing to encourage cash payments after a new 0.4 percent charge on UPI transactions above Rs 2,000 began affecting merchant economics. The move underscores a growing tension between India’s digital payments push and the thin margins that many small businesses, especially in mobility-linked retail and services, operate on every day.

4 min readRead →

Banking, Fintech & InsuranceJust now (02:47 AM IST)

Finance Ministry Sees No Cash Surge After UPI MDR Levy, Sources Say

The Finance Ministry does not expect a meaningful shift back to cash after the proposed merchant discount rate on a limited set of UPI transactions, according to sources. Officials believe the impact will be confined to a small share of total UPI volume, while free RuPay debit card transactions and close monitoring should help prevent any pass-through of costs to consumers.

5 min readRead →

Banking, Fintech & InsuranceJust now (10:56 AM IST)

Government Rules Out UPI Fee Rollback as 0.4% MDR Stays on Large Merchant Payments

The government will impose a 0.4% merchant discount rate on UPI payments above Rs 2,000 made to businesses from October 15, while person-to-person transfers and small-value transactions will remain free. Officials say the move is intended to support the safety and long-term sustainability of the UPI ecosystem, but opposition parties have criticised the decision as a setback for digital payments.

5 min readRead →

Banking, Fintech & InsuranceJust now (10:56 AM IST)

Government May End UPI Subsidies as Merchant Fees Begin to Take Hold

India may be preparing to phase out taxpayer-funded incentives for UPI and RuPay transactions as merchant discount revenue begins to enter the payments system. The shift would mark a significant policy transition from state support to a more self-sustaining digital payments model, with no new subsidies reportedly paid since April 2025.

5 min readRead →

Banking, Fintech & InsuranceJust now (03:39 AM IST)

Finance Ministry Sees No Cash Surge After UPI MDR Levy, Sources Say

The Finance Ministry expects the introduction of merchant discount rate charges on a small slice of UPI transactions to have no material impact on cash usage, according to sources familiar with the matter. Officials believe the continued zero-cost status of RuPay debit card payments and close monitoring of merchant pass-through risks will help preserve India’s digital payments momentum.

5 min readRead →

Banking, Fintech & InsuranceJust now (03:18 AM IST)

Delhi Traders Turn to Cash as New UPI Fee Threatens Thin Margins

Delhi’s trading community is preparing to encourage cash payments after a new 0.4 percent charge on UPI transactions above Rs 2,000 began reshaping merchant calculations. The move underscores a growing tension between India’s digital payments push and the cost pressures facing small businesses, especially in low-margin sectors such as automotive and mobility retail.

5 min readRead →

Banking, Fintech & InsuranceJust now (01:14 AM IST)

UPI MDR Framed as Sustainability Fee, with Small Merchants Kept Outside the Net

India is moving toward a new merchant discount rate framework for UPI that is designed to fund the platform’s rising infrastructure costs rather than generate a broad-based windfall. The proposed charge will apply only to large-value person-to-merchant transactions above Rs 2,000, while small merchants and everyday consumer payments remain shielded from fees. The policy is aimed at preserving UPI’s low-cost reach while creating a revenue stream for banks and payment apps that support the ecosystem.

6 min readRead →

Banking, Fintech & InsuranceJust now (09:22 PM IST)

Finance Ministry Sees No Cash Surge After UPI MDR Levy, Sources Say

The Finance Ministry does not expect a meaningful shift back to cash after the proposed merchant discount rate on a limited set of UPI transactions, according to sources familiar with the matter. Officials believe the impact will be contained because only a small share of UPI volumes will be affected, while RuPay debit card payments will remain free, reducing pressure on everyday digital use.

5 min readRead →

🏢 About this Entity

Corporations, startups, regulatory bodies, central banks, ministries and judicial courts. All news mentioning this entity is automatically verified and aggregated into this live intelligence dossier.

Co-Occurring Entities

Entities frequently referenced alongside UPI:

New Delhi(16)India(10)Government of India(7)RuPay(6)Finance Ministry(5)Nirmala Sitharaman(2)