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When UPI (Unified Payments Interface) was first introduced for digital transactions, a Merchant Discount Rate (MDR) fee was applicable. This fee was subsequently waived (set to zero) to encourage the adoption of digital transactions. What are the new rules for UPI transaction charges? As UPI usage continues to grow daily, banks and payment service providers incur significant costs in handling transactions and maintaining the necessary technical infrastructure, including servers. Consequently, the Central Government has decided to reintroduce the Merchant Discount Rate (MDR) for UPI transactions. Under this new policy, a charge of 0.4% will be levied on commercial transactions exceeding ₹2,000, effective from October 15. Additionally, the maximum charge for transactions of ₹75,000 and above has been capped at ₹300. This charge applies specifically to money transfers from individuals to merchants. However, for certain categories of transactions—such as railway tickets, fuel,...

 New Delhi: GST collections hit a record high of Rs 2.37 lakh crore in April. This is the highest tax collection in a single month since the introduction of GST in 2017. GST india   What is the revenue collection of GST in India Earlier, the highest collection was Rs 2.10 lakh crore in April last year. The collection in March was Rs 1.96 lakh crore. In April last year, GST was collected from domestic transactions to the tune of Rs 1.90 lakh crore and from imported goods to the tune of Rs 46,913 crore. Refunds were given for Rs 27,341 crore. After deducting refunds, the net GST collection increased by 9.10 percent to Rs 2.09 lakh crore. In this context, Tamil Nadu's GST revenue in April last year increased by 13 percent to Rs 13,831 crore. The central government has estimated that the country's GST revenue in the current financial year will increase by 11 percent to Rs 11.78 lakh crore.  UPI transactions decline in the last month The country's UPI transactions declined ...

Digital money transfer has become increasingly popular among the people in the last few years. In this regard, the number of money transactions through India's Unified Payments Interface (UPI) is increasing every month. Upi money transactions What is the growth in UPI transactions in India New Delhi: UPI transactions hit a new high of 1.70 crore in January, according to NBCI data.     Accordingly, UPI transactions increased by 1.60 per cent to 1.69 crore in January, up from 1.67 crore in December 2024. This is a new record in terms of number since the digital payment system was launched in April 2016. The number of daily transactions for January was 1.43 crore, up from 1.42 crore in December. The value of daily transactions increased to Rs 19,562 crore in January. Compared to the same month of the previous fiscal, the number of digital money transactions in January increased by 39 per cent and by 28 per cent in value. Similarly, the number of transactions in othe...

Ways to protect against UPI scams, Digital payments have become normal in recent life. UPI is the foundation of digital money transactions. The stage is located. UPI has made digital money transfer easy and widely accepted. However, taking advantage of the widespread nature of this facility, fraudsters have also increased. Therefore, it is important to know the ways in which UPI fraud is carried out and how to protect against them. UPI scams Ways of Fraud: Various with UPI, platform In ways, poisoners engage in fraud. Phishing involves providing access to false links, fraudulent calls, SIM fraud , mobile screen monitoring, and money extortion. These should be known. Web of Desire: Although various methods are adopted to deceive users, fraudsters can find some correlation in their approach. Most of the time, they enter the user account by sharing basic information, believing that the information is from banks. Extra Attention: When sending or receiving money Users should pa...