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NPCI has deferred the planned Merchant Discount Rate (MDR) on select UPI merchant payments: instead of starting October 15, 2026, the reported framework will take effect immediately after Diwali on a date to be notified separately. The announcement is a postponement, not a cancellation. The available reports verify NPCI’s deferment but do not verify the claim attributed in the headline to former SBI chief Dinesh Khara that it “signals clear intent.”
What did NPCI announce about UPI MDR?
On October 13, 2026, NPCI’s UPI and Services Steering Committee decided to delay the planned MDR on select person-to-merchant (P2M) UPI transactions, which had been scheduled to begin October 15. Business Standard reproduced the committee’s statement: “UPI and Services Steering Committee today decided that, keeping in mind the festive season, Merchant Discount Rate (MDR) on select Person-to-Merchant (P2M) UPI transactions, shall be implemented immediately post Diwali at a date to be notified separately.” (Business Standard; NDTV)
The reported reason was the festive season. The committee did not announce a specific replacement date in the statement reproduced by news outlets. An earlier Business Standard report on October 8 had described a possible January 1, 2027 start based on unnamed sources; that was a reported proposal, not the date NPCI announced on October 13. The later statement supersedes that speculation as to the reported timing. (Business Standard, October 8 and October 13)
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The date remains pending in the October 13 announcement. NPCI said implementation would occur immediately after Diwali and that the date would be notified separately. October 15 is therefore no longer the operative start date, and January 1, 2027 should not be treated as confirmed. Businesses should look for a subsequent NPCI notice for the actual start date and operational terms. (NDTV; NDTV Profit)
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Which UPI payments above ₹2,000 are affected?
News reports described a proposed, selective framework—not a charge on every UPI transaction. Its reported distinctions are:
- Payment type: The MDR concerns select P2M payments to merchants. Person-to-person (P2P) transfers were reported to remain free.
- Amount: Payments up to and including ₹2,000 were reported to remain free. For eligible merchant transactions above ₹2,000, reports described a 0.4% MDR, capped at ₹300 per transaction.
- Merchant eligibility: The Economic Times reported an exemption for qualifying small merchants. Eligibility criteria and final implementation details were not established in the October 13 reporting.
- Category-specific fees: Business Standard reported a flat ₹5 MDR for certain categories above ₹2,000. Reports differ on which categories qualify: one lists bill payments, fuel and education, while another names railways, telecom, insurance, fuel and agricultural inputs. These should not be treated as a definitive category list without the final NPCI notice.
The reported rates and exemptions describe the framework covered by news reports, not a confirmed final operational schedule. (Business Standard; The Economic Times; NDTV)
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Will UPI charges apply to customers?
The reports describe MDR as a merchant-side processing fee, not a fee charged directly to the customer. The Economic Times reported that merchants would not be allowed to pass the charge on to consumers. The exact application awaits the subsequent operational notice, so this is a reported provision of the framework rather than a guarantee about every implementation detail. (The Economic Times; Business Standard)
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For customers, the announcement does not introduce a new fee on every UPI payment; the reported framework is limited by payment type, amount, merchant eligibility and category. For merchants, the scheduled October 15 start has been pushed back, but the delay does not itself remove the proposed MDR. The final date and category-level application depend on a later notice.
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The scale of UPI helps explain why timing and scope matter, but transaction activity is not a measure of MDR impact. Business Standard reported an average of 802 million UPI transactions per day in September 2026, with an average daily value of ₹97,913 crore. Those are usage figures, not estimates of how many payments would incur a fee or how much merchants would pay. (Business Standard)
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What is known about Dinesh Khara’s “clear intent” remark?
The October 13 reports cited here corroborate the NPCI committee’s deferment, but they do not establish that former SBI chief Dinesh Khara made the quoted characterization, or provide its original publication context. The “clear intent” wording should therefore be treated as an unverified attribution, not as a confirmed explanation of NPCI’s decision.
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