'Compromised PM Modi Again Surrendering to US': Rahul Gandhi Says Govt 'Opening Doors' for UPI Transaction Fee
The government says customers will pay no charge on transactions up to Rs 2,000, while merchants may face fees on larger digital payments.
- On September 14, the government issued a notification prohibiting banks and providers from levying charges on Unified Payments Interface or RuPay debit card transactions of up to Rs 2,000.
- This follows an August 13 amendment to the Payment and Settlement Systems Act, 2007, which established an enabling framework for imposing a Merchant Discount Rate on electronic payment modes.
- Congress leader Rahul Gandhi and Jairam Ramesh alleged the move creates a framework for fees on transactions above Rs 2,000, questioning if the government aims to "appease" President Donald Trump.
- Finance Minister Nirmala Sitharaman rejected these claims, stating that the Merchant Discount Rate applies only to merchants, not end-users, to support banks and fintech companies in infrastructure investment.
- While transactions over Rs 2,000 account for just 5% of volume, they represent nearly 65% of total UPI value, fueling opposition concerns that costs could eventually impact ordinary consumers.
14 Articles
14 Articles
Congress leader Rahul Gandhi has attacked the Modi government over the Merchant Discount Rate (MDR) on digital transactions conducted through UPI. He alleged that the government has changed its zero-MDR policy under pressure from American payment companies, which will impact the pockets of ordinary customers.
'Compromised PM Modi again surrendering to US pressure': Rahul on govt's UPI move
New Delhi, Sep 15 (PTI) Congress leader Rahul Gandhi on Tuesday alleged that the Modi government has quietly paved the way for imposing fees on UPI transactions and that a “compromised” Prime Minister Narendra Modi was “once again surrendering” to American pressure. The Congress raised questions over the government’s notification on UPI transactions, claiming that […]
Rahul Gandhi Claims Modi Government Surrendering To US Pressure On UPI Charges
Congress leader Rahul Gandhi has accused the Modi government of quietly paving the way for imposing fees on UPI transactions, alleging it's a surrender to American pressure. The government's recent notification exempts charges only up to Rs 2,000, sparking concerns that higher value transactions and eventually all UPI payments could incur fees. Finance Minister Nirmala Sitharaman, however, clarified that Merchant Discount Rate (MDR) applies to m…
Coverage Details
Bias Distribution
- 71% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
