🤔 Govt can cover UPI maintenance costs, says MP
BJD MP Santrupt Misra questioned the Centre's decision to impose a 0.4% MDR on person-to-merchant UPI transactions above ₹2,000. He argued the government could fund the UPI network maintenance using a portion of the ₹2.86 lakh crore RBI dividend given in 2025-2026. Furthermore, he noted that NPCI's shareholder banks, which made ₹2.5 lakh crore profit last year, could also contribute funds. Misra warned that the fee would force merchants to cut margins or pass costs to consumers. This 0.4% fee is set to be effective starting October 15, 2026.