Centre Rejects ‘External Pressure’ On UPI Fee, Says 0.4% Charge Is Needed For Sustainability

No foreign influence: Govt hits back at 'external pressure' charge on UPI fee

The government has rejected the opposition's charge that the introduction of a Merchant Discount Rate (MDR) on UPI payments was intended to benefit American card companies.

Why Opposition Calls New UPI MDR A Surrender To US Pressure

Opposition parties, including Congress, TMC, and RJD, have strongly criticised the government's decision to impose a 0.4% Merchant Discount Rate (MDR) on UPI transactions exceeding Rs 2,000 made to merchants. They allege the move is a result of "American imperialism" and will lead to increased commodity prices, while the government maintains the charge is on merchants and not consumers, with person-to-person transactions remaining free.

Centre Rejects ‘External Pressure’ On UPI Fee, Says 0.4% Charge Is Needed For Sustainability

<p>The Centre on Wednesday rejected allegations that US pressure influenced India's decision to introduce a Merchant Discount Rate (MDR) on certain high-value UPI payments, saying the policy has been framed independently to strengthen the long-term sustainability of the country's digital payments infrastructure.</p> <p>The clarification came amid a political dispute over the government's decision to introduce a 0.4% MDR on specified person-to-me…

Finance Ministry Debunks “external Pressure” Claims, Says Decisions for UPI Made Independently

Get latest articles and stories on Business at LatestLY. The Ministry of Finance on Wednesday, debunked the "external pressure" myth surrounding the revision in UPI transaction frameworks, clarifying that changes in regulations stem entirely from domestic priorities rather than foreign influence. Business News | Finance Ministry Debunks “external Pressure” Claims, Says Decisions for UPI Made Independently.

MDR on UPI not a tax, will help upgrade digital infrastructure: TV Mohandas Pai

TV Mohandas Pai, Chairman of Aarin Capital and former CFO and board member at Infosys, on Wednesday welcomed the MDR decision on UPI, saying that 96 per cent of UPI transactions will not be affected by the charges.

UPI MDR changes: Govt rejects ‘foreign influence’ claims - OrissaPOST

New Delhi: Finance Ministry Wednesday debunked claims which suggested the MDR change in the UPI ecosystem is due to foreign influence, stressing that India’s digital payments decisions are made independently. Since its launch in 2016, UPI has grown into the world’s largest real-time interoperable payment system — entirely on India’s own terms, the ministry posted […]