Fintech company BharatPe has expressed strong support for the government's new Merchant Discount Rate (MDR) framework for UPI merchant transactions, which introduces a 0.4% fee on transfers exceeding Rs 2,000. The company explicitly distanced itself from critical remarks made by its former co-founder Ashneer Grover, clarifying that his views do not represent BharatPe's stance. BharatPe CEO Nalin Negi highlighted that the framework aims to strengthen digital payment economics, protect consumers and small merchants, and expand adoption in underserved markets, with most transactions remaining unaffected.
Fintech firm BharatPe has publicly supported the government's new Merchant Discount Rate (MDR) framework for UPI merchant transactions, which introduces a 0.4% fee on transfers over Rs 2,000. The company has also distanced itself from its former co-founder Ashneer Grover's strong criticism of these changes, stating his remarks are personal and do not reflect BharatPe's official position. BharatPe believes the new framework will strengthen digital payment economics while protecting consumers and small merchants.
PhonePe, at the Global Fintech Fest 2026, unveiled its strategic vision for the next decade, focusing on inclusive digital progress for individuals, households, and businesses across India. The roadmap details innovations in financial inclusion, wealth creation, credit access, and merchant solutions.
PhonePe has announced a significant expansion plan to deepen digital payment infrastructure across India's towns and villages. This initiative includes hiring over 20,000 sales personnel and deploying more than 50 lakh payment devices, with a strong focus on rural areas, aiming to bring small merchants into the formal financial ecosystem.
Fintech giant PhonePe has launched 'PhonePe UPI 123Pay', a new service enabling UPI transactions for feature phone users without requiring an internet connection. This initiative aims to bring digital payment capabilities to over 200 million feature phone users, promoting financial inclusion across India.
Fintech firm PhonePe has signed a Memorandum of Understanding (MoU) with the Ministry of Electronics and Information Technology (MeitY) to integrate its enterprise data intelligence platform, PulsePro, into the PM GatiShakti framework. This collaboration aims to provide granular, hyperlocal insights for national infrastructure planning, economic analysis, and holistic urban and rural development.
Digital payments firm PhonePe has launched PulsePro, an enterprise intelligence platform providing businesses with aggregated and anonymised transaction data. This platform offers near real-time market insights at granular levels, helping companies track consumer spending, identify growth opportunities, and make informed expansion decisions across India.
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Economic think tank GTRI has urged the Indian government to withdraw the proposed UPI charges, set to begin on October 15, arguing that the digital payment system should remain free for merchants and consumers. GTRI warns that these charges could lead to higher prices, reduced earnings for small businesses, and weakened household demand, while also benefiting international card networks by eroding UPI's price advantage. The think tank also called for an independent audit of UPI's running costs.
A report by IIT-Bombay professors recommends reducing the Merchant Discount Rate (MDR) on UPI transactions from 0.40 per cent to 0.08 per cent. It suggests that banks should fund the UPI ecosystem using their net interest margins from CASA deposits, rather than relying on MDR. The report also addresses transaction costs, credit card MDR, and ATM withdrawal allowances, aiming to ensure UPI's long-term sustainability and public trust by proposing remuneration only from large merchants.
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PhonePe has announced it has surpassed 700 million registered users on its platform. This milestone underscores PhonePe's extensive reach in India and its diverse digital offerings in payments and financial services. The company's growth is attributed to increasing consumer trust, a strong distribution network, and a focus on user-friendly digital payment experiences.
Fintech giant PhonePe has announced it has surpassed 50 million registered merchants on its platform, marking a significant milestone as it expands its financial service offerings beyond QR code payments.
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Apple has officially launched its Apple Pay service in India, initially partnering with Axis Bank for Visa and Mastercard credit card users. The service allows secure, cashless transactions via iPhone, iPad, and Apple Watch using NFC technology, without requiring PINs or OTPs. This move is set to intensify competition in India's digital payments market, currently dominated by UPI and local players, with Apple planning to onboard more banks and expand merchant networks.
The Congress party has accused the Indian government of imposing new charges on UPI transactions due to pressure from the United States, specifically to benefit American card companies. The opposition party demanded the withdrawal of the decision, calling it "anti-national" and alleging it fills the coffers of US firms while burdening Indian citizens. The government, however, clarified that the Merchant Discount Rate (MDR) charges apply only to commercial transactions above Rs 2,000 and are not levied on consumers, a stance supported by the BJP which accused Congress of spreading "fake news".
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The Finance Ministry has refuted allegations that US pressure influenced the decision to levy a 0.4 per cent Merchant Discount Rate (MDR) on select UPI payments. The ministry clarified that the NPCI guidelines prioritise RuPay credit cards on UPI to promote domestic alternatives and ensure a self-sustaining revenue model for smaller domestic companies, countering claims of favouring foreign payment providers.
Additional District and Sessions Judge Ravi Kumar Diwakar of Muzaffarnagar has publicly questioned the administrative recall of 97 serious criminal cases from his court. His remarks, made in an acquittal order, highlight concerns about judicial independence and the legality of withdrawing "part-heard" cases without proper procedure, especially after he had delivered 23 death sentences.
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Left parties have strongly condemned the government's decision to impose charges on UPI payments exceeding Rs 2,000, with CPI General Secretary D Raja alleging the move was made under "US pressure" to favour foreign payment companies. Both CPI and All India Forward Bloc demand the withdrawal of this "anti-people decision," arguing it burdens consumers and merchants while undermining UPI's role as a public digital infrastructure. They highlight concerns that the charges weaken India's digital sovereignty and serve commercial interests of foreign corporations like Visa and Mastercard.
PhonePe on Monday announced it has temporarily deferred its public market listing process due to the current geopolitical conflicts and market volatility and will resume the listing process once there is some stability in global capital markets.
Congress leader Rahul Gandhi has criticised Prime Minister Narendra Modi's silence on the NEET paper leak controversy, demanding the sacking of Education Minister Dharmendra Pradhan and questioning the government's handling of the situation.
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A three-year-old nursery student in Delhi was allegedly sexually assaulted by her school bus driver, leading to his arrest. Police have formed a Special Investigation Team (SIT) and issued an advisory to schools regarding staff verification and vehicle use.
PhonePe has launched the 'RuPay On-The-Go' Card, a National Common Mobility Card (NCMC) aimed at digitising transit payments across India. The card enables quick, tap-and-pay transactions on NCMC-enabled services like metros, buses, and trains, even without internet connectivity.
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In addition to caste details, the Census will, for the first time, collect personal information such as the total number of bank accounts held by individuals, along with their mobile number, Aadhaar number, voter ID number, passport number and driving licence status, according to the 40 questions notified by the Registrar General of India on Friday.
The Centre has notified 40 questions for the upcoming Census 2027, including caste and place of Covid vaccination, marking the first time caste details will be collected as part of the decadal exercise. The population enumeration will be a fully digital process, with an option for self-enumeration.
'A man is willing to give up his life. Bachhe bhook hartal pe hain.'
For millions of Indians, this number has become one of the most important financial indicators. It can influence not only whether a bank approves a loan but also the interest rate you pay, the credit limit you receive and, in some cases, how quickly your application is processed.
Gen Z protesters are using memes, music, and sarcastic humour on social media platforms like Instagram and X to demand Union Education Minister Dharmendra Pradhan's resignation over the NEET question paper leak and other examination irregularities.
Kerala Police have issued a warning about a new cyber fraud where scammers are using the image of Chief Minister Pinarayi Vijayan in fake social media advertisements to trick people into making online payments through PhonePe.
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