Rahul Gandhi publicly criticized the Modi government for its recent decision to allow Merchant Discount Rates (MDR) on UPI transactions exceeding ₹2,000. He expressed concern that this change would disproportionately affect consumers, as these transactions account for approximately 65% of the total transaction value in the UPI ecosystem.
Gandhi stated, "मोदी सरकार ने चुपचाप UPI पर फ़ीस लगाने का रास्ता खोल दिया है। अब ₹2,000 से ऊपर के merchant UPI लेन-देन पर MDR लगाया जा सकता है। इन ट्रांजैक्शंस की संख्या भले ही सिर्फ़ 5% हो, लेकिन UPI के कुल transaction value का करीब 65% इन्हीं में है।" He further argued that while the government insists that consumers will not incur these fees directly, they will inevitably see price increases as merchants pass on the additional costs.
- Impact on consumers — The introduction of fees on high-value UPI transactions may lead to increased prices for goods and services, affecting everyday consumers.
- US company influence — Gandhi claims the fees favor US payment companies who have long opposed India's zero-MDR policy.
- Political implications — This move could intensify the ongoing debate about foreign influence in India's economic policies.
Critics of the policy assert that it undermines the fundamental principles of a cashless economy, which should prioritize accessibility and affordability. Gandhi's comments reflect growing frustration among opposition leaders regarding perceived capitulation to foreign interests.
In response to Gandhi's remarks, the government defended its position, arguing that the new policy will enhance the overall infrastructure of digital payments in India. They maintain that this will lead to better services and more innovation in the sector. However, many remain skeptical about the potential impact on consumers.
