GTRI urges government to drop 0.4% UPI fee over ₹2,000
Global Trade Research Initiative (GTRI) is asking the government to drop its plan to add a 0.4% fee on select person-to-merchant (P2M) UPI transactions over ₹2,000, set to start October 15, 2026.
GTRI founder Ajay Srivastava says keeping UPI free matters for everyday people and small businesses, since extra charges could mean higher prices and less spending power.
GTRI urges UPI cost audit
GTRI warns these fees could make UPI less attractive than card payments, which might end up helping international card companies instead.
They're calling for an independent audit of what it really costs to run UPI and suggest that banks, payment apps, and the government should all help cover those costs, especially since last year's UPI transactions represented a substantial portion of India's GDP!