GTRI urges India to drop proposed UPI merchant fee
In short
The Global Trade Research Initiative wants the government to drop a proposed 0.4% fee on UPI merchant payments above ₹2,000.
It says the charge could hurt small businesses, raise prices and weaken demand. The reporting says the change was due on October 15, but it does not say whether the government will keep it.
What the reporting says
The Global Trade Research Initiative urged the government to withdraw a proposed 0.4% fee on UPI merchant transactions above ₹2,000. The group warned the charge could raise prices, squeeze small businesses and weaken demand, while the reporting says the change was set for October 15. The immediate consequence would be higher costs for merchants and consumers, but the policy is still not confirmed in the available reporting.
Why it matters
The Global Trade Research Initiative urged the government to withdraw a proposed 0.4% fee on UPI merchant transactions above ₹2,000. The reporting says the fee was set for October 15 and could affect small businesses, consumer spending, banks and payment apps. The immediate issue is whether free UPI payments remain in place, but the government’s final decision is not stated.