'No question of rollback': Govt defends UPI charges as Rahul targets PM Modi
The Indian government has rejected calls to roll back a proposed 0.4% Merchant Discount Rate on high-value UPI transactions. Opposition leaders have criticized the move as a 'Modi Tax' and alleged it was influenced by US pressure, which the government denies.
Why it matters
The debate over UPI charges touches on the sustainability of India's digital payment infrastructure and the political tension surrounding economic policy.
NEW DELHI: The government has ruled out any rollback of the proposed 0.4 per cent Merchant Discount Rate (MDR) on Unified Payments Interface (UPI) transactions above Rs 2,000, saying the decision has already been taken and will come into effect from October 15.“There is no question of a re-think,” a top government official told news agency PTI when asked whether the Centre was considering withdrawing the proposed MDR on high-value merchant transactions.The decision comes amid sharp criticism from Opposition parties, traders and sections of the digital payments ecosystem who dubbed the move as 'Modi Tax'.
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