The record
Written from the 1 report below. Nothing here is unsourced.
- A fee (MDR) on UPI payments above 2,000 rupees will be charged to merchants from October 15, and NPCI Executive Director Sohini Rajola has explained the decision in an interview with Aaj Tak.
- The decision has triggered political controversy over the new charge on larger UPI transactions.
- Only payments above 2,000 rupees made by merchants are covered by the charge, according to the report.
- NPCI's Executive Director gave the explanation in a special conversation with Aaj Tak, available as a full video.
- The fee matters because UPI is widely used for everyday payments and merchants will directly bear the cost on larger transactions.
What to watch next
- Whether the political opposition to the October 15 charge leads to a rollback or change in the fee decision
- Details of Sohini Rajola's explanation of the rationale for the 0.4% MDR on transactions above 2,000 rupees
- Any further clarification on which merchants and payment types will be affected
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Indian-language1
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Named India · National Payments Corporation of India · Sohini Rajola
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