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Today is Bhaidooj and with this the festive season has ended. Now everyone’s eyes are on the new rules of UPI. From tomorrow, a shopkeeper may have to pay 0.4% Merchant Discount Rate (MDR) if he purchases more than ₹2,000 through UPI. Earlier NPCI was going to implement these new charges from October 15, but…
Today is Bhaidooj and with this the festive season has ended. Now everyone’s eyes are on the new rules of UPI. From tomorrow, a shopkeeper may have to pay 0.4% Merchant Discount Rate (MDR) if he purchases more than ₹2,000 through UPI. Earlier NPCI was going to implement these new charges from October 15, but…
0.4% fee i.e. MDR on UPI payments above Rs 2,000 will not be charged from customers. According to government sources, not a single penny of MDR will go to the government treasury. This amount will be distributed among the banks and other institutions associated with the UPI system. The government rejected the allegation of opposition…
New Delhi15 minutes ago copy link Yesterday’s big news was related to GDP. GDP stood at 7.8% in the first quarter of this year i.e. April-June. RBI’s estimate was 7%. It had grown at the rate of 6.9% in the same quarter a year ago. At the same time, fintech company PhonePe has started a…
New Delhi: Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday reiterated that the central bank has no proposal to impose a fee on transactions done through Unified Payments Interface (UPI). The governor’s clarification came during his address after the post-Monetary Policy Committee (MPC) meeting. Malhotra stated that he had never said UPI could…
The National Payments Corporation of India (NPCI) has increased transaction limits for several categories that are being implemented from today, September 15. The limits are changed particularly for high‑value sectors like insurance, investments, travel, and credit card bills. According to the circular issued by NPCI last month, the new UPI rules are designed to make…
India’s Unified Payments Interface (UPI) achieved a major milestone as daily transactions crossed 700 million for the first time, reaching 707 million on August 2, according to the latest data from the National Payments Corporation of India (NPCI). Over the past two years, UPI’s daily transaction count has doubled. In August 2023, it recorded around…
New Delhi: In what will bring cheers to millions of UPI users, the Ministry of Finance has given its response on the levying of GST on UPI transactions above a certain limit. On July 22, Congress MP Anil Kumar Yadav raised a query in the Rajya Sabha. He posed questions regarding government’s proposal to levy…
New Delhi33 minutes ago copy link 15,547 crore transactions were done through Unified Payment Interface i.e. UPI from January to November-2024. During this period an amount of Rs 223 lakh crore was transferred. Today (December 14), the Finance Ministry shared a post on X and informed that this is a new record of transactions through…
New Delhi33 minutes ago copy link In October, 1,658 crore transactions were done through UPI (Unified Payment Interface). During this period, a total amount of Rs 2,350 lakh crore was transferred. The number of transactions has increased by 45% compared to October last year. In October 2023, 1,141 crore transactions were done through UPI and…