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The Hindu

Top News / The Hindu

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UPI and the cost of policy reversal

The governments proposal to allow an MDR of 0.250.5% on UPI transactions above 2,000 reverses a decade-long policy; taxing the payment rail could weaken incentives for banks and fintechs to invest in UPI while undermining its role in financial inclusion, formalisation and wider digital adoption

11 Aug 2026 9:25 am