UPI

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Last Updated: Just Now

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Banking, Fintech & Insurance Just now (02:41 AM IST)

Government May Phase Out UPI Subsidies as Merchant Fees Begin to Support Payments Network

The government is considering ending taxpayer-funded subsidies for small UPI transactions as merchant discount revenue begins to flow into the payments ecosystem, marking a significant shift in India’s digital payments policy. The move reflects a broader effort to make UPI and RuPay more self-sustaining after years of public support, with no fresh subsidy payments made since April 2025.

By RDU Global Wire5 min read

Startups & Venture CapitalJust now (12:38 AM IST)

Proposed UPI MDR Is Not a Tax or Surcharge, Will Not Hit Consumers: Finance Minister

Finance Minister Nirmala Sitharaman said the proposed Merchant Discount Rate on UPI is not a tax, cess or surcharge, but a charge within the digital payments ecosystem levied by entities that facilitate transactions. She said the cost, if introduced, would be borne by payment service providers, merchant banks and other ecosystem participants, not by consumers at the point of payment.

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 →

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 →

Banking, Fintech & Insurance6h 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.

5 min readRead →

Startups & Venture Capital6h ago

IIT Madras sets bold startup target: 1,000 ventures by 2032, with one IPO a month in sight

IIT Madras has unveiled an ambitious long-term startup roadmap, aiming to nurture about 1,000 startups by 2032 and see at least one of them go public every month, Director Prof. V. Kamakoti said. The institute said it has already incubated 583 startups with a combined valuation of Rs 83,000 crore, underscoring its growing role as one of India's most influential deep-tech and entrepreneurship hubs.

5 min readRead →

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Co-Occurring Entities

Entities frequently referenced alongside UPI:

New Delhi(2)RuPay(1)Nirmala Sitharaman(1)Government of India(1)Finance Ministry(1)