GENERAL24 Sept 2026
Stockbrokers approach Union government over proposed UPI charges | Stock Market News
From 15 October, certain UPI payments will carry a merchant discount rate (MDR) — a fee paid by merchants. Person-to-merchant transfers above ₹2,000 will face 0.4%, capped at ₹300, while capital-market transactions pay a lower 0.02%. Stockbrokers have asked the government to review this. Sebi has gathered feedback on a fix, since these fees may exceed the brokerage brokers earn.
Key Statutory Highlights
- NPCI said on 15 September that a merchant discount rate will apply to certain UPI transactions from 15 October.
- Person-to-merchant UPI payments above ₹2,000 will attract a 0.4% fee, capped at ₹300 for transfers of ₹75,000 or more.
- Stockbrokers worry the merchant discount rate could be more than the brokerage they earn, because clients often transfer funds without trading.
Actionable Advice for Taxpayers / Founders:If you accept UPI payments or run a broking account, review how these fees affect your costs and keep an eye on Sebi and NPCI updates before 15 October. A word with your CA can help you plan for the extra charge.
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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