Supreme Court refuses to stay UPI charges on payments above Rs 2,000
The Supreme Court on Monday declined to put an interim stay on the government's decision to levy a merchant discount rate (MDR) on UPI payments above Rs 2,000. A bench led by…
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SBI ATM, UPI MDR, LPG subsidy rules change from October
Several banking and personal finance rules change from October 2026. SBI will reduce free monthly transactions for salary account holders at other bank ATMs from 10 to five, effective October 1. The…
Supreme Court seeks Centre’s affidavit on UPI MDR charges, refuses stay
The Supreme Court on Monday refused to stay the Centre's decision to levy a 0.4% Merchant Discount Rate (MDR) on specified UPI person-to-merchant transactions above Rs 2,000, but sought an affidavit from…
UPI users beware splitting bills to avoid MDR may trigger fraud alerts
From 15 October, UPI person-to-merchant (P2M) transactions above Rs 2,000 will attract a 0.4 per cent Merchant Discount Rate (MDR), with a cap of Rs 300 for payments over Rs 75,000. Transactions…
Only 10% of UPI value may face consumer charges, says NPCI chief
National Payments Corporation of India (NPCI) managing director and CEO Dilip Asbe has said that only about 10% of the total value of UPI transactions carries the risk of charges being passed…
UPI merchant fee of 0.4% on payments over Rs 2,000 from October 15
The government will introduce a Merchant Discount Rate (MDR) of 0.4% on UPI payments above Rs 2,000 from October 15. Individual users will not pay the fee, only merchants will. The fee…
NPCI CEO says only 10% of UPI value faces MDR pass-through risk
NPCI CEO Dilip Asbe has said only 10% of UPI transaction value comes from merchants that do not yet accept credit cards, the segment that may face consumer pass-through risk under the…
NPCI launches AI chatbot MyUPI but key features missing
The National Payments Corporation of India (NPCI) launched MyUPI, an AI-powered chatbot built on its in-house small language model FiMI, at the Global Fintech Fest on September 10. The platform is meant…
UPI fee shift could generate $1.1 billion revenue for apps
India's Unified Payments Interface (UPI) will cease to be free from October 15, after regulators permitted a 0.4% merchant discount rate (MDR) on transactions above Rs 2,000. Brokerage Bernstein estimates the fee…
NPCI says GST on UPI MDR will not burden small merchants
The National Payments Corporation of India (NPCI) has said that GST on the Merchant Discount Rate (MDR) for UPI transactions will not burden small merchants. Transactions up to Rs 2,000 will continue…
