GTRI urges government to drop proposed UPI charges
In short
The Global Trade Research Initiative wants the government to withdraw proposed UPI charges that are set for October 15. It says the fees could hurt small businesses, push up prices, and reduce spending.
This matters for merchants, consumers, banks, and payment apps because free UPI has helped digital payments grow. It is still unknown whether the government will change the proposal.
What the reporting says
The Global Trade Research Initiative urged the government to withdraw proposed UPI charges set for October 15, saying fees on UPI transactions could hurt small businesses and consumer spending. The group warned merchant fees may raise prices, reduce demand, and shift competition toward card networks. The reporting does not state whether the government will revise the plan.
Why it matters
The Global Trade Research Initiative is urging the government to withdraw proposed UPI charges due on October 15. The concern is that fees on UPI transactions could raise merchant costs, increase prices for consumers, and weaken demand, especially for small businesses. The reporting also says keeping UPI free may support digital payments and payment apps, but it does not confirm any final government decision.