'6 Crore Traders Disappointed': Trade Body Urges Nirmala Sitharaman To Roll Back UPI Charges
The Chamber of Trade and Industry (CTI) has urged the central government to reconsider upcoming UPI charge on high-value merchant payments. CTI Chairman Brijesh Goyal has written to Finance Minister Nirmala Sitharaman seeking a rollback of the Merchant Discount Rate (MDR) on UPI payments above Rs 2,000, which is scheduled to take effect from October 15, 2026.
Under the new framework, eligible person-to-merchant UPI transactions above Rs 2,000 will attract an MDR of 0.4 per cent, subject to a maximum charge of Rs 300 per transaction. Payments between individuals will continue to remain free. Small merchants receiving up to Rs 1 lakh a month through UPI QR will also be exempt from the MDR.
