UPI merchant charges for transactions above Rs 2000 to begin after Diwali

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The Indian government will implement merchant charges for UPI transactions exceeding Rs 2,000 after the Diwali festival. The charges are a form of Merchant Discount Rate (MDR) intended to fund the UPI payment system's infrastructure. The government states this funding is necessary as the annual cost for maintaining UPI operations is approximately Rs 20,000 crore. The policy change represents a significant shift for users and merchants who have been transacting on UPI without such fees.

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