New Delhi: The National Payments Corporation of India (NPCI) has decided to defer the rollout of a fee on UPI-based commercial transactions above Rs 2,000 until after the Diwali festival.
Earlier, the Union government had permitted a 0.4% charge to be collected from merchants for UPI transactions exceeding Rs 2,000. NPCI had initially announced that the new fee structure would come into effect from October 15.
With the festive season spanning October to December—covering Dussehra, Diwali and Christmas—merchants had expressed concerns that the move could affect festival sales. The government was said to be considering a postponement for a few months.
In its latest statement, NPCI said the implementation has now been pushed to after Diwali, citing the festival period as the reason for the decision.
