Economy · India
RBI Defends UPI Transaction Charges, Citing Sustainability
The Reserve Bank of India (RBI) has defended the introduction of a Merchant Discount Rate (MDR) on large-value UPI transactions exceeding Rs 2,000. The central bank stated that this measure is necessary to ensure the long-term sustainability of India's digital payments ecosystem. Fintech experts, however, have raised concerns, suggesting the MDR might benefit US service providers. Following the announcement, shares of companies like Paytm and MobiKwik saw a significant surge, with some brokerages increasing their target prices and earnings estimates for Paytm.
How outlets across the spectrum covered it
L 2 C 8 R 5
- Left (2): National Herald, The Telegraph (India)
- Centre (8 votes, 10 outlets): Amar Ujala, Business Standard, Business Today, Hindustan Times · Mint (HT Media — 1 vote), The Economic Times · The Times of India (Times Group — 1 vote), The Financial Express, The Hindu BusinessLine, The New Indian Express
- Right (5): Aaj Tak, Dainik Jagran, News18 Hindi, Republic World, The Commune