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NPCI clarified that GST on UPI Merchant Discount Rate will not burden most small merchants, as transactions up to Rs 2,000 remain MDR-free. It said over 96 per cent of UPI merchant transactions fall below this threshold, while P2P payments remain free
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A common currency may not be the answer; BRICS can reduce dependence through local-currency trade, digital payments and diversified reserves
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A PIL has been filed in the Supreme Court challenging the Centre’s decision to impose MDR on select UPI merchant transactions above Rs 2,000. The petitioner alleged the framework lacks transparency, statutory safeguards and may burden merchants and consumers
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BRICS offers significant opportunities for deeper cooperation in artificial intelligence, trade, digital payments and financial integration, experts said. They highlighted India-Russia economic ties, India’s growing AI capabilities, BRICS Pay and the potential for cross-border technology collaboration
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Commerce Minister Piyush Goyal urged BRICS countries to link payment systems, promote trade in local currencies and make digital trade more accessible. He said India’s digital public infrastructure could help deepen economic cooperation and support emerging technologies
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Prime Minister Narendra Modi on Tuesday marked 10 years of the Unified Payments Interface (UPI), calling it a turning point in India’s digital payments journey and a source of national pride. He urged citizens to share their UPI experiences on social media.
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Parliament passed the Taxation and Other Laws (Amendment) Bill, 2026, with Finance Minister Nirmala Sitharaman clarifying that UPI will remain free for consumers. The legislation also seeks to attract foreign capital, boost electronics manufacturing and ease operations for global cloud companies
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Finance Minister Nirmala Sitharaman rejected Congress leader Jairam Ramesh's criticism of the UPI amendment Bill, saying Merchant Discount Rate applies only to merchants. She accused the Congress of avoiding parliamentary debate, while Ramesh maintained the changes could eventually lead to charges on digital payments.
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Traders in Jantar Mantar and Connaught Place reported severe business losses as ongoing CJP protests disrupted footfall. Road diversions, metro station closures, and internet disruptions affecting digital payments reduced sales to just 25 percent of normal levels
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New Zealand has expressed openness to adopting India's Unified Payments Interface (UPI), with Trade Minister Todd McClay saying the country's regulatory environment can accommodate the digital payment platform. The remarks come as UPI continues expanding globally through international payment partnerships.
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Commerce and Industry Minister Piyush Goyal announced that UPI services have gone live in Greece, enabling instant, low-cost money transfers. During his Athens visit, he met Eurobank CEO Fokion Karavias and urged Greek businesses to invest in India.
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At the VivaTech 2026 forum in Paris, Prime Minister Narendra Modi advocated democratising technology, saying AI means “All Inclusive” for India. He highlighted India's digital achievements, startup ecosystem and investment opportunities while calling for technology access that benefits everyone
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South African Reserve Bank Governor Lesetja Kganyago has cited India’s UPI as a model for reducing cash dependence. As South Africa develops a free real-time payment system, UPI’s success in driving digital transactions is being viewed as a benchmark
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Prime Minister Narendra Modi said PM SVANidhi has empowered millions of street vendors through collateral-free loans, financial inclusion and digital adoption. Marking six years of the scheme, he highlighted its role in boosting livelihoods, dignity and economic growth across urban India
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India’s UPI digital payment system will become operational in Cyprus from next year following agreements signed during Narendra Modi’s 2025 visit. The move expands UPI’s European footprint and strengthens India-Cyprus cooperation in fintech, trade and cross-border financial connectivity
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Prime Minister Narendra Modi, addressing the nation, reiterated his government’s commitment to women’s empowerment despite the setback in Parliament over the Women’s Reservation Bill. He framed the issue as part of a larger pattern of resistance to reforms by the Opposition.
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India’s digital payments platform Unified Payments Interface recorded 27% annual growth in February transaction volumes, reaching 20.39 billion, as per National Payments Corporation of India data, strengthening its global expansion and dominance over cash transactions domestically
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GST notices generated by UPI data sparked protests across Karnataka, exposing how data-led enforcement —without context or support — can undermine trust in Digital India
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At the India-AI Impact Summit 2026 in New Delhi, French President Emmanuel Macron praised India’s digital transformation, citing a Mumbai vendor’s journey to digital payments. He highlighted strategic AI cooperation with Narendra Modi, emphasising innovation, sovereignty, and responsible technology
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The BHIM Payments App saw a sharp rise in usage in 2025, with monthly transactions growing from 38.97 million in January to 165.1 million in December, a more than fourfold increase. Transaction volumes rose over 300 per cent, while values crossed Rs 20,854 crore in December.
