GENERAL16 Sept 2026
New UPI charge may put netbanking back in play for Indian stockbrokers
From October 15, a 0.02 per cent charge called the merchant discount rate will apply to UPI (Unified Payments Interface) payments. For stockbrokers, this makes netbanking cheaper on large transfers, because netbanking costs a flat Rs 8-12 per transaction. So brokers may move big transfers back to netbanking. If you run a broking business, compare both costs before that date.
Key Statutory Highlights
- A 0.02 per cent MDR on UPI takes effect on October 15.
- Netbanking costs a flat Rs 8-12 per transaction.
- Netbanking works out cheaper than UPI for large transfers made by brokers.
Actionable Advice for Taxpayers / Founders:If you run a broking or payment-heavy business, review your per-transaction transfer costs before October 15 and confirm the rates that apply to you with your bank or payment provider.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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