Digital India's 'Maha-Utsav': Why deferring the UPI charge is a masterstroke for the Indian Economy

The Indian government and NPCI have deferred the introduction of a 0.4% Merchant Discount Rate on Unified Payments Interface (UPI) transactions above Rs 2,000 until after the Deepawali festive season, aiming to protect small traders and consumers, preserve digital payment adoption, and support the informal economy's integration into the tax base.

This Wire brief sits within Fusion42's coverage of Fintech, and 44 sources have reported it between 15 Sep 2026 and 17 Oct 2026.