Neutral impactEconomy
'Everything on record': Parliamentary Finance panel chief defends unanimous Standing Committee report amid UPI MDR row
Economic Times 1 hr ago·19 Sept 2026, 5:01 am
The parliamentary finance committee, led by Bhartruhari Mahtab, has defended its unanimous report on the Demands for Grants, which includes a proposal to re‑introduce a merchant discount rate (MDR) on certain UPI transactions. The report suggests a revenue model for digital payments, and the government is reviewing ways to restore MDR after a period of zero‑fee transactions.
For investors, any change in UPI fees could affect the cost structure of merchants and the volume of digital payments, influencing the earnings of payment processors, fintech firms and retailers that rely on UPI. Watch for the final MDR framework, its effective date, and any guidance on which transaction types will be subject to fees, as these will shape market sentiment around the digital payments ecosystem.
Key takeaways
- Category: Economy.
- Assessed as a significant, market-relevant update.
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