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The Economic Times
The Economic Times
Debaroti Adhikary

Nithin Kamath says new UPI charges on investing, broking don’t make sense: 'I don't see how we can absorb this indefinitely'

Nithin Kamath UPI Zerodha

Zerodha CEO Nithin Kamath reacted to the government’s newly announced Merchant Discount Rate (MDR) on select UPI transactions above Rs 2,000, saying that while it was inevitable at some point, it does not make sense for certain use cases, such as investing and broking.

The National Payments Corporation of India (NPCI) announced that the government will introduce MDR on some Person-to-Merchant (P2M) UPI transactions from October 15 onwards, with merchants paying 0.4% on transactions above Rs 2,000. Speaking to X, Kamath said the introduction of MDR was inevitable especially given how widespread UPI adoption has become.

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