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MDR charges on UPI transactions: Necessity or revenue grab?
Indians make around 24 billion UPI (Unified Payments Interface) transactions a month. The combined value of these payments is nearly Rs30 trillion. UPI is at the heart of India’s digital public infrastructure. The best thing about UPI payments: they are free. But now this could change. The government recently passed the Taxation and Other Laws (Amendment) Bill, 2026, in the Lok Sabha. This Bill, among other things, amends the Payment and Settlement Systems Act, 2007, which had ensured that no charge can be levied on UPI transactions. But now, this is no longer the case. The government has…
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