26-September-2026
Banking
 
Government tells banks to shield consumers from UPI fees
25-Sep-2026

The government is nudging banks and the Confederation of All India Traders (CAIT) to ensure UPI’s Merchant Discount Rate (MDR) is not passed on to consumers, sources said, adding that it can’t stop people from splitting transactions to avoid the charges also. “Banks have been advised to ensure that merchants do not pass it on to customers,” a senior official said.

News Source:- https://www.financialexpress.com/business/news/government-tells-banks-to-shield-consumers-from-upi-fees/4346995/?ref=business_hp
 
 
 

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