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.
