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India UPI instant payments fee controversy 2026
One page that accretes the verified record as the story develops. Every fact keeps its date and its sources.
1 DAYS
21 FACTS
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FIRST ENTRY SEP 17
SEP 17 · Day 1
India to impose controversial fee for UPI instant payments
India's National Payments Corporation of India (NPCI) announced a 0.4 percent fee on UPI transactions above 2,000 rupees made to businesses, effective from October 15.
UPI processed a record 24.51 billion transactions in the month prior to the article's publication, averaging 791 million transactions per day worth more than $10 billion daily.
Economist Santosh Mehrotra said the Modi government appears to be partially swayed by US pressure regarding UPI charges.