© 2026 telugu.digital
A top official, when asked whether the government was considering to roll back the proposed Merchant Discount Rate charges on UPI transactions above Rs 2,000, to be implemented from October 15, said a decision has been taken and there was no question of reversing it.
Starting on October 15, banks and payment applications will begin earning revenue from select merchant UPI transactions. Transactions under Rs 2000 will remain exempt from new fees, while person-to-person transfers and small vendor payments under Rs 1 lakh are still free. Merchants will incur a charge of up to forty basis points for transactions over Rs 2000.
A new UPI framework will implement fees on certain merchant transactions while keeping person-to-person payments and transactions under two thousand rupees free of charge.
Payments to merchants, or person-to-merchant (P2M) transactions, of up to Rs 2,000, will remain free, but payments above this threshold will attract o.4% MDR.
UPI rate of 0.4% to be levied on merchant transactions above ₹2,000 | India News
No bank charges on UPI transactions up to Rs 2,000.
India's Unified Payments Interface (UPI) processed a record 24.51 billion transactions worth Rs 29.82 lakh crore in August, as smaller-ticket payments continued to drive growth.Data released by the National Payments Corporation of India (NPCI) showed transacti
Union minister for communications, Jyotiraditya Scindia, said that India s transformation in telecommunication and digital connectivity led by Prime Minister Narendra Modi has been monumental in the past one decade. Scindia was in Pune to attend the 12th BRICS