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Policy● Neutral for Indian equities
Consumer dept preps guardrails as UPI fee set to kick in
The brief
- The consumer department will help the finance ministry resolve complaints as UPI fees take effect
- Payment providers and merchants may face added consumer-protection scrutiny around UPI fees
- AIMRA announces nationwide 'No UPI Day' on October 2 to protest against proposed MDR for UPI transactions
- Apple Pay enters India with Axis Bank, targeting card usage and broader partnerships
- Sitharaman discusses BIT, FTA, UPI expansion with Qatar during Doha visit
- Only 62 mn invest in MFs despite 500-550 mn UPI users in India: EY report
- New rules from October 1 cover SBI ATM charges, UPI fees and LPG subsidy verification