Debate With Arnab: Why Is ‘Naraz Fufa’ Upset With India’s Hugely Successful UPI Story?

In this episode of Only Arnab Talks About It, Arnab Goswami examines the political row over UPI, Digital India and the new ₹2,000 no-charge rule.

The Finance Ministry has notified under Section 10A of the Payment and Settlement Systems Act, 2007 that banks and payment-system providers cannot levy any direct or indirect charge on UPI payments of up to ₹2,000. Person-to-person (P2P) UPI transfers remain free, while RuPay debit-card payments are also protected under the notification. Around 96% of UPI merchant transactions are reportedly within the ₹2,000 protected bracket.

For UPI merchant payments above ₹2,000, the notification does not impose an immediate fee or fix an MDR rate. Any future framework, categories and rate would require a decision by the NPCI-led steering committee. The debate follows Rahul Gandhi’s criticism of the government over a possible opening for charges on higher-value merchant payments.

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