Supreme Court declines stay on 0.4% UPI levy
In short
The Supreme Court did not pause a new 0.4% charge on some UPI payments above Rs 2,000. The policy is set to start on October 15, and notices were sent to the government, RBI, NPCI and others.
This matters for merchants, payment networks and UPI users if the levy goes ahead. What the court will decide next is still not stated in the available reporting.
What the reporting says
The Supreme Court declined an interim stay on the government’s new 0.4% merchant discount rate policy for specified UPI transactions above Rs 2,000, according to publisher summaries. The petition challenging the levy was filed as a public interest litigation, and notices were issued to the government, RBI, NPCI and others. The policy is reported to take effect on October 15, but the legal challenge remains unresolved.
Why it matters
The Supreme Court declined an interim stay on a government policy that imposes a 0.4% merchant discount rate on certain UPI transactions above Rs 2,000. The challenge is being heard as a public interest litigation, and notices have been issued to the government, RBI, NPCI and others. The immediate effect is that the policy remains on track for October 15, while the legal outcome is still unknown.