Neutral impactEconomy

Finance Ministry rejects US pressure claims over new UPI MDR, says RuPay has no special edge

Economic Times 2 hrs ago·17 Sept 2026, 9:12 am

India's Finance Ministry rejects claims of US influence on UPI payment charges. The new framework prioritizes RuPay credit cards for UPI transactions. This move aims to foster domestic competition and create a sustainable revenue model. Small merchants and certain transactions will remain exempt from the new charges. The government emphasizes protecting India's electronic payment ecosystem sovereignty.

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  • Category: Economy.

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