INCOME TAX16 Sept 2026
What will happen to investors on digital broking platform? INDmoney CEO responds to UPI MDR charges
A proposal suggests a 0.02% Merchant Discount Rate (MDR), capped at ₹300, on UPI payments for stock, derivative and mutual fund trades. INDmoney's CEO Ashish Kashyap says this could cost his platform ₹11.52 crore a year. He says INDmoney will not pass that cost to investors. So funding your trading wallet or mutual funds there stays free, though other platforms may add a convenience fee.
Key Statutory Highlights
- A proposal would apply a 0.02% Merchant Discount Rate, capped at ₹300, on capital market transactions made through UPI.
- INDmoney CEO Ashish Kashyap calculated that ₹200 crore in daily wallet recharges would mean ₹4 lakh a day and ₹11.52 crore a year in MDR.
- Kashyap said INDmoney would not pass this cost on to its investors.
Actionable Advice for Taxpayers / Founders:Before you top up your trading wallet or start a mutual fund investment through UPI, ask your platform whether it plans to add a convenience fee, so you know what your transactions will actually cost.
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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