GTRI advises India against altering UPI rules due to US influence
The think tank GTRI has cautioned that India should resist US pressure to modify its UPI policies, emphasizing the need to protect policy independence, market competition, and the long-term health of the payments sector. According to GTRI, payment service providers and banks must be prohibited from imposing direct or indirect fees on consumers for using these payment channels. Meanwhile, Finance Minister Nirmala Sitharaman has dismissed concerns that the suggested Merchant Discount Rate would result in additional costs for users.
by shortkt.com✓