RBI governor expects small MDR fee to have no major impact on UPI volumes

PTI, in a report published by The Economic Times, quotes RBI Governor Sanjay Malhotra saying he had seen no drop in UPI transaction volumes and did not think a small merchant discount rate (MDR) fee would have a major impact. The report says the government allowed a 0.4% fee on transactions above Rs 2,000 in September 2026.