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FinMin allays fears of increase in cash transactions post UPI MDR levy: SourcesThe Finance Ministry anticipates no rise in cash transactions following the UPI MDR implementation. Only a small percentage of total UPI vo...- No US pressure in UPI MDR decision; NPCI circular offers no advantage to foreign credit cards: FinMinThe Department of Financial Services (DFS) issued the clarification in response to observations in the US Trade Representative's (USTR) 202...
- MDR on UPI not imposed due to external pressure, say govt sourcesOfficials clarified that there is no separate GST levied on MDR charges. While GST will apply to MDR on UPI transactions, businesses will b...
- Finance Ministry rejects US pressure claims over new UPI MDR, says RuPay has no special edgeIndia's Finance Ministry rejects claims of US influence on UPI payment charges. The new framework prioritizes RuPay credit cards for UPI tr...
- Attempt to divert attention from backlash over UPI tax: Congress on govt's Parl panel claimsCongress denies supporting a parliamentary committee's report on UPI payment fees. The party accuses the government of diversion after a si...
- Congress calls UPI move 'anti-national', alleges US pressureThe Congress party has voiced strong opposition to the implementation of a merchant discount rate (MDR) on UPI transactions, alleging that ...
- Plea in SC against imposition of MDR on UPI payments of above Rs 2,000The government has introduced a 0.4% fee on UPI payments of more than Rs 2,000 made to merchants from October 15. Under this, a merchant di...
- UPI fee: Why govt is putting a price on big merchant paymentsThe National Payments Corporation of India, which operates the UPI network, said the revenue will support investment in infrastructure resi...
- UPI charge is just tax collection: Ashneer Grover calls out government wanting to charge on payments above Rs 2,000 while banks are making crores in profitsBharatPe co-founder Ashneer Grover has questioned the rationale for introducing charges on certain UPI merchant transactions above Rs 2,000...
- NPCI announces MDR for UPI; merchant transactions above Rs 2,000 to attract 0.4% chargeWhile NPCI has not specified a threshold based on the size of a merchant’s turnover, it said in its announcement that vendors operating und...
- Amazon Now’s sales surge; govt’s stance on UPI chargesHappy Tuesday! Amazon's quick commerce arm is scaling fast, India head Samir Kumar told us. This and more in today’s ETtech Morning Dispatc...
- UPI MDR could unlock Rs 22,000 crore revenue pool by FY28: BernsteinUPI could generate Rs 22,000 crore annually by FY28 through a modest merchant discount rate. Banks might receive Rs 14,000 crore and paymen...
- Stage being set for levying UPI transaction fee: Cong slams govtCongress criticizes the government's UPI transaction notification. The party claims this move sets a stage for future user fees. This notif...
- Merchant fee on UPI rolling out as transaction floor set at Rs 2,000India has exempted transactions up to ₹2,000 via UPI and RuPay debit cards from charges. This move allows for the reintroduction of merchan...
- Banks cannot impose charges on UPI payments of up to Rs 2,000, govt saysThe government has announced no charges on UPI transactions up to Rs 2,000. RuPay debit card payments below this amount will also remain fr...
- UPI MDR notification likely to be out for businesses soon; banks may pocket bulk of 40 bps feeThe issuing bank would retain 40% of the fee, sources said. Third-party application providers such as PhonePe or Google Pay, and the acquir...
- Global Fintech Fest 2026: DFS Secretary Sanjay Lohiya unveils UPI credit for KCC, MUDRA borrowersDFS Secretary Sanjay Lohiya at Global Fintech Fest 2026 unveiled a facility allowing eligible Kisan Credit Card and PM MUDRA Yojana borrowe...
- Zero-fee travel credit card: Unlimited airport lounge access, 10% rewards on UPI transactions – Is this new co-branded card for you?How about a card that not only offers airport privileges but also earns rewards on every eligible spend and UPI transaction, with zero fore...
- Cash no king, but don't stash it: India wants a digital economy, but cash still holds the power of choiceDespite government promotion of digital transactions like UPI and e-Rupee, cash remains prevalent, especially in rural areas and for large-...
- PM Jan Dhan scheme marks 12 years, number of accounts crosses 59 cr with Rs 3.17 lakh cr depositsThe Pradhan Mantri Jan Dhan Yojana has completed twelve years of service. Over fifty-nine crore bank accounts now exist under this financia...
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