The record
Written from the 1 report below. Nothing here is unsourced.
- Finance Minister Nirmala Sitharaman described India's digital payments system as a global success and an 'envy of the world'.
- Her comments came amid a political row over the government's decision to introduce charges on some UPI transactions.
- The new framework allows a 0.4% Merchant Discount Rate on merchant transactions above ₹2,000, while smaller transactions and person-to-person payments remain free.
- The government says the charges are meant to support the financial sustainability of the payment system, while the Congress called the move a step towards imposing a UPI fee.
- The remarks matter because they frame India's digital payments push at a time when merchants and opposition parties are questioning the new UPI fees.
What to watch next
- Whether opposition parties escalate their criticism of the UPI merchant fee framework.
- How small merchants respond to the 0.4% fee on transactions above ₹2,000, including possible shifts back to cash.
- Any further government clarification or changes to the UPI fee structure.
Who said what1
Only words found exactly in the article are shown, attributed and linked to the line they came from.
Nirmala Sitharaman
Union finance minister
1 quote · 1 outlet
“As much as the digital is a success, you see the numbers of NPCI (National Payments Corporation of India), it’s an envy of the world”
In the article
…Union finance minister Nirmala Sitharaman on Wednesday described India’s digital payments system as a global success, amid a political row over the Centre’s decision to introduce charges on some UPI transactions. “ As much as the digital is a success, you see the numbers of NPCI (National Payments Corporation of India), it’s an envy of the world ,” Sitharaman said at the Eighth International Tax Conference in Bengaluru. Her remarks came a day after the government faced opposition over the new UPI fee framework. The changes allow a 0.4% Merchant Discount Rate on…
Coverage1
All filed from India
Named India · National Payments Corporation of India · Bengaluru · Congress · Nirmala Sitharaman
The 1 report is listed beside the record.
Ask this story
Answers cite the reports above, or say they can't.