NPCI

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Banking, Fintech & Insurance 6h ago

MDR on select UPI transactions is not a tax or surcharge, will not hit consumers, Sitharaman says

Finance Minister Nirmala Sitharaman has pushed back against criticism of the proposed Merchant Discount Rate on select high-value UPI transactions, saying it is neither a tax, cess nor surcharge and will not flow to the government. She said the charge is part of the digital payments ecosystem, will be borne by merchants, and is intended to support infrastructure and innovation in UPI.

By RDU Global Correspondent5 min read

Banking, Fintech & Insurance6h ago

Government Says New UPI Merchant Fee Won't Hit Consumers as India Moves to Protect Digital Payments Growth

Government sources on Thursday said the proposed 0.4% merchant discount rate on certain UPI transactions above Rs 2,000 will be borne by merchants, not consumers, and will not flow into government coffers. The move, effective October 15, is aimed at building a sustainable revenue model for the digital payments ecosystem while keeping person-to-person UPI transfers free and shielding most small merchants from the charge.

5 min readRead →

Startups & Venture Capital3h ago

IIT Madras-backed Unicorn India Ventures raises Rs 450 crore in first close, targets Rs 1,000 crore deep-tech fund by December

IIT Madras, its Research Park and Unicorn India Ventures have announced a first close of Rs 450 crore for a Rs 1,000 crore fund aimed at advanced technology startups, with the final close expected by December 2026. The fund has already deployed nearly Rs 55 crore across four deep-tech startups as it sharpens its focus on sectors seen as strategically important to India's industrial and national security ambitions.

6 min readRead →

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Co-Occurring Entities

Entities frequently referenced alongside NPCI:

UPI Payment Network(2)Nirmala Sitharaman(1)