'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.
18 Articles
18 Articles
Compromised PM again surrendering to US pressure: Rahul Gandhi slams govt's UPI move
Congress MP Rahul Gandhi has accused the Centre of quietly opening the door to UPI charges through its latest notification. He claimed that "compromised" Prime Minister Narendra Modi was "again surrendering to American pressure".
‘Quietly opened the door to UPI fees’: Rahul Gandhi slams Modi govt, Centre defends notification
Rahul Gandhi accused the Modi government of opening the door to UPI transaction fees, alleging US pressure behind the move. The Centre's notification bars charges on UPI/RuPay payments up to ₹2,000, while citing cybersecurity and infrastructure costs as reasons for the broader MDR framework.
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 […]
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