Now Reading: IOC calls fake viral claim on UPI cap at MP petrol pumps
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IOC calls fake viral claim on UPI cap at MP petrol pumps
Indian Oil Corporation (IOC) has dismissed as fake a social media message claiming petrol pump owners in Madhya Pradesh will stop accepting UPI payments above Rs 2,000 in protest against merchant fees.…
Indian Oil Corporation (IOC) has dismissed as fake a social media message claiming petrol pump owners in Madhya Pradesh will stop accepting UPI payments above Rs 2,000 in protest against merchant fees. The viral post also said a 'No-UPI Day' would be observed in Indore on September 23, 2026.
IOC said no such restriction has been announced by petrol pump owners. It added that some individuals who are not petroleum dealers made the baseless claims, and that dealers' associations have been in regular touch with ministry officials and have not called any strike. IOC said petrol pump dealers actively promote digital payments.
Indian Opinion Analysis
The fake claim taps into a real friction point: merchant discount rates (MDR) on UPI transactions, which some small retailers have long wanted reduced or removed. However, the government has resisted imposing any UPI transaction cap or charge since the COVID-19 period, keeping the zero-MDR regime for UPI payments under the NPCI framework. The hoax also chose a date two years ahead, September 2026, making verification easy. For consumers, the key watch item is whether any formal representation from petroleum dealers to the finance ministry on MDR emerges after this incident, which would indicate actual industry sentiment.
Source: news.abplive.com
This brief was synthesised by AI from the source linked above.
