‘Someone has to pay’: RBI governor on MDR proposal for UPI transactions above Rs 2k
Why This Matters
Key context: According to official estimates, the Rs 2,000 threshold would cover only around 5% of all UPI transactions, although these account for nearly 65% of the total value processed on the platform. As a result, routine purchases such as milk, vegetables, groceries, or payments for auto-rickshaws and taxis are unlikely to be affected. UPI processed 23.7 billion transactions worth Rs 29.9 lakh crore in July. This development from timesofindia.indiatimes.com highlights ongoing changes in the sector.
According to official estimates, the Rs 2,000 threshold would cover only around 5% of all UPI transactions, although these account for nearly 65% of the total value processed on the platform. As a result, routine purchases such as milk, vegetables, groceries, or payments for auto-rickshaws and taxis are unlikely to be affected. UPI processed 23.7 billion transactions worth Rs 29.9 lakh crore in July.
Curation & Context
This page summarizes a public news report from timesofindia.indiatimes.com. Global News Hub provides the "Why This Matters" takeaway using editorial insights and AI curation to give readers rapid, high-value context before they click through to read the full article.