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Policy● Neutral for Indian equities
75% traders may not face UPI levy, says NPCI MD & CEO Dilip Asbe
The brief
- 75% of traders may not face a UPI levy, NPCI chief Dilip Asbe said
- The 18% GST on merchant discount rate could be reviewed
- A GST review could affect payment costs for Indian fintech and payments companies
UPI MDR rollout and consumer protection
SBI plans to charge MDR on UPI merchant payments above ₹2,000 from October 15, while officials say MDR collections will not cover UPI’s full operating costs and the government and banks will decide a continuing subsidy. The Finance Minister says the fee will be borne within the merchant-payment ecosystem, not passed to consumers; the government is also discussing safeguards with banks.
Thursday, 24 September
- 75% traders may not face UPI levy, says NPCI MD & CEO Dilip Asbe