'It will help UPI in continuing to scale, innovate and serve consumers and businesses across the country,' says RBI
The course will also include hands-on AI, ML and deep-learning tutorials, practical datasets and coding assistance from IIT Kanpur teaching assistants
Effective industrial policy has a legitimate place for subsidising activities that generate exceptionally large positive spillovers for the wider economy, says ISB's Prasanna Tantri
The new framework sets a 0.4 per cent Merchant Discount Rate on UPI payments above ₹2,000 to merchants, with the fee capped at ₹300 for payments of ₹75,000 and above
Public utility payments, including electricity distribution bills, municipal water charges and piped natural gas bills, fall under the designated Industry program category
At 0.02%, the MDR on a Rs 1 lakh transaction would work out to Rs 20. The Rs 300 maximum cap also limits the charge on larger transactions.
The Canva benefit depends on the Jio recharge plan. Users on the ₹399 plan will get Canva Pro for 12 months at no extra cost.
For mutual fund investors, the distinction between a recurring UPI mandate and a regular UPI payment is important. A mutual fund SIP or other recurring investment set up through UPI Mandate or AutoPay will not attract the prescribed MDR transaction charge, NPCI clarified in its FAQs.
The move is aimed at making digital fee payments more affordable for schools, colleges, universities and students, particularly when dealing with larger tuition and institutional payments
The CCPA also examined Rapido's "Set your price" slider and found that its colour coding influenced the rider’s pricing decision
The new MDR framework is aimed at creating a sustainable funding model for the UPI ecosystem, with revenue intended to support infrastructure, cybersecurity, innovation and customer service
The RBI last week rejected Tata Sons’ application to surrender its registration as a non-banking financial company (NBFC).
UPI transactions above ₹2,000 will attract a 0.4% Merchant Discount Rate (MDR) from October 15, 2026, while the fee will be capped at ₹300 for payments of ₹75,000 and above. The new framework will keep UPI free for consumers and exempt eligible small P2PM merchants, as NPCI seeks to build a more sustainable payment ecosystem.
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According to traders, most of the consignments have been sourced from Gujarat and shipped through Bharuch port, while some supplies have moved through the Howrah wholesale fish market in West Bengal.
Policy will play its part, but policy cannot be the only instrument that drives the economy forward, says CEA Nageswaran
UPI payments between individuals will remain free irrespective of the transaction value, while a 0.4% Merchant Discount Rate (MDR) will apply to select person-to-merchant transactions above ₹2,000.
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