Jairam Ramesh takes jibe at Centre over MDR on UPI NEW DELHI: Congress on Wednesday stepped up its attack against the Centre and accused it of “giving into” United States’ demand to get rid of zero MDR and charge for UPI.In a social media post on X, senior Congress leader Jairam Ramesh dubbed the government’s decision to introduce merchant discount rate on UPI as “NOTA – Narendra’s Ongoing Trump Appeasement” and alleged that the move was aimed at helping US card companies compete with UPI.”Tomorrow, the US House of Representatives votes on a Bill that introduces 100% tariffs on India. The US Senate has already approved this draconian law. Meanwhile, the Trump regime has been cracking down on Indian immigrants and making tougher laws against them. H-1B visa costs have been increased and such holders could soon be deported immediately when out of a job. Such holders are mostly IT professionals,” Jairam Ramesh said.”Here, the Modi Govt has given into a US demand to get rid of zero MDR and charge for UPI. The US Trade Representative earlier this year criticized UPI for being free and having driven out Visa and Mastercard. Why 0.4% MDR? Is it because debit card MDR is also 0.4%? Is this being done to enable US card companies to compete with UPI?” he questioned.Join conversationView All Comments →Share your thoughts in the commentsInsightfulAgreeDisagreeSkepticalConcerningPromisingWorth ReadingBig DevelopmentPost CommentBe respectful · TOI community guidelinesThe Congress leader claimed that the estimated cost of running the entire UPI ecosystem is around Rs 20,000 crore annually, which he said is less than 10% of what the RBI has been transferring to the Union government in the past few years to show healthy public finances for the Modi government.”Is this going to make UPI ‘sustainable’ as the Govt claims? The estimated cost of running the entire UPI ecosystem is around Rs 20,000 crore annually. This is less than 10% of what the RBI has been transferring to the Union Govt in the past few years so as to show healthy public finances for the Modi Govt,” he said.”The PM has redefined NOTA – Narendra’s Ongoing Trump Appeasement,” the Congress leader added.Jairam Ramesh’s remarks came after the National Payments Corporation of India on Tuesday introduced a new MDR framework, under which UPI merchant transactions above Rs 2,000 will attract an MDR of 0.4%, while consumers will continue to transact free of cost using UPI.The revised UPI MDR framework will come into effect from October 15, 2026, and will apply to select merchant transactions.Get the latest India News and Live updates. Download the TOI app.About the AuthorRohitashwa RanjanRohitashwa Ranjan is a digital journalist with The Times of India, where he decodes Indian politics as a carefully staged production with scripts, subtext and everything behind. His stories track elections, party dynamics and the things that often are buried beneath the headlines. When not parsing vote shares or alliances, he is usually reading between the lines, where the real story tends to reside.Read MoreEnd of ArticleFollow Us On Social MediaVideos100% Tariffs On India?: US House Advances Bill Enabling Trump To Target Top Russian Oil BuyersModi Govt Announces UPI Charges: 0.4% MDR Above ₹2000 From Oct 15 | Who Will Pay And Who Won’t?Omar Abdullah LAUDS India’s Foreign Policy Over BRICS Pahalgam Mention, Reacts To China’s PraiseRajasthan Civic Polls: BJP Dominates, But AAP, CPM Wins BIG Alarm For Congress Ahead Of 2028UPI ₹2,000 Rule Explained: Will You Pay Extra For ₹5,000 Or ₹10,000 Payments? 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NEW DELHI: Congress on Wednesday stepped up its attack against the Centre and accused it of “giving into” United States’ demand to get rid of zero MDR and charge for UPI.In a social media post on X, senior Congress leader Jairam Ramesh dubbed the government’s decision to introduce merchant discount rate on UPI as “NOTA – Narendra’s Ongoing Trump Appeasement” and alleged that the move was aimed at helping US card companies compete with UPI.“Tomorrow, the US House of Representatives votes on a Bill that introduces 100% tariffs on India. The US Senate has already approved this draconian law. Meanwhile, the Trump regime has been cracking down on Indian immigrants and making tougher laws against them. H-1B visa costs have been increased and such holders could soon be deported immediately when out of a job. Such holders are mostly IT professionals,” Jairam Ramesh said.“Here, the Modi Govt has given into a US demand to get rid of zero MDR and charge for UPI. The US Trade Representative earlier this year criticized UPI for being free and having driven out Visa and Mastercard. Why 0.4% MDR? Is it because debit card MDR is also 0.4%? Is this being done to enable US card companies to compete with UPI?” he questioned.
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The Congress leader claimed that the estimated cost of running the entire UPI ecosystem is around Rs 20,000 crore annually, which he said is less than 10% of what the RBI has been transferring to the Union government in the past few years to show healthy public finances for the Modi government.“Is this going to make UPI ‘sustainable’ as the Govt claims? The estimated cost of running the entire UPI ecosystem is around Rs 20,000 crore annually. This is less than 10% of what the RBI has been transferring to the Union Govt in the past few years so as to show healthy public finances for the Modi Govt,” he said.“The PM has redefined NOTA – Narendra’s Ongoing Trump Appeasement,” the Congress leader added.Jairam Ramesh’s remarks came after the National Payments Corporation of India on Tuesday introduced a new MDR framework, under which UPI merchant transactions above Rs 2,000 will attract an MDR of 0.4%, while consumers will continue to transact free of cost using UPI.The revised UPI MDR framework will come into effect from October 15, 2026, and will apply to select merchant transactions.
