Government Clarifies UPI Transactions to Remain Free for Users
The Indian government has clarified that Unified Payments Interface (UPI) transactions will remain free for users, despite recent legislative changes. The Ministry of Finance stated that person-to-person transactions will not incur charges, and any potential Merchant Discount Rate (MDR) would apply only to specific merchant transactions above a certain threshold. This clarification comes after concerns arose from a bill passed in the Lok Sabha, which allows banks to charge merchants a fee. The government emphasized that the amendment aims to ensure the long-term sustainability of UPI and enhance its technological capabilities. 
