UPI MDR, Oct. 13 -- The 0.40% merchant discount rate (MDR) on UPI transactions above Rs.2,000 has been pushed and will come into effect after Diwali, the NPCI said in a statement today.

Notably, this comes amid a number of trader unions and groups urging the government to remove the new charge, which was due to come into effect from 15 October.

The NCPI in a statement said that the postponement comes as consideration of the festive period. Notably, Diwali 2026 will be celebrated across India on November 8. It marks a period of extended festivities, with shoppers expected to spend on clothes, cars, gold and home appliances during the auspicious time.

"UPI and Services Steering Committee today decided that, keeping in mind the festive se...