Explainer
UPI MDR to be implemented after Diwali
The UPI MDR rollout, which was announced from October 15, will be implemented post Diwali.
TOPIC COVERAGE
#Upi Mdr
Explore the latest news, in-depth reports, and executive analysis tagged with #Upi Mdr.
![UPI MDR Delay: PhonePe meets govt officials; NPCI Steering Committee Meeting cancelled today [Exclusive]](/upload/theheadandtale.com/2026/10/1791547094_aa1c7337de_upi_2.jpg)
Explainer
UPI MDR Delay: PhonePe meets govt officials; NPCI Steering Committee Meeting cancelled today [Exclusive]
With NPCI also holding meetings with government departments, uncertainty over the October 15 rollout continues, sources say.
Deepdives
UPI MDR Explained: Who really gets the 40 basis points, and how much
UPI's new 0.4% MDR grabbed headlines, but the real story is who profits. By our estimates, the top three UPI apps could get up to 40% of the MDR split.
Explainer
Big Breaking: NPCI sets MDR on UPI transactions above Rs 2,000 at 0.4%
The NPCI framework also proposes a flat Rs 5 MDR on UPI transactions above Rs 2,000 for specified merchant categories.
Fintech News
Govt notifies rules on UPI MDR; NPCI expected to issue circular in two weeks
The government has, however, specified that banks and other system providers cannot impose any charge on RuPay-powered debit cards and UPI payments of up to Rs 2,000.
Money & Machines
Money & Machines: (UPI) Zero for Whom?; The Sovereign AI Dilemma
In this edition, we revisit the longest-running payments debate i.e. UPI MDR; and we explore what happens when sovereign AI, venture capital and national interest collide.