Economy & Policy◆ Mixed
Sebi discusses new UPI merchant charges with NPCI as brokers flag cost concerns
SEBI is in focus.
· LiveMint Markets
The new framework mandates an MDR of 0.4% on person-to-merchant (P2M) UPI transactions above ₹2,000. For transactions of ₹75,000 and above, the fee is capped at ₹300 per transaction.
The analysis
SEBI reported ₹2,000, ₹75,000 and ₹300, with movement of 0.4% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Why it matters
- With SEBI involved, this carries a regulatory dimension that can outlast the immediate market reaction.