Ashneer Grover calls UPI merchant charge over ₹2,000 a 'tax'
Business
Ashneer Grover, ex-BharatPe co-founder, isn't happy about the new merchant charge on UPI transactions over ₹2,000.
He told Times Now that this move just adds extra cost for people and feels more like a "tax" than a fair charge.
The good news: sending money between friends or family on UPI stays free.
Ashneer Grover cites RBI ₹2.87L/cr surplus
Grover questioned why this fee is needed at all, especially since RBI and banks are already making big profits: RBI has ₹2.87 lakh crore in surplus, and banks have earned ₹4.11 lakh crore.
Even NPCI (which runs UPI) is doing well financially.
For now, around 96% of merchant transactions will remain unaffected when it kicks in on October 15, 2026.