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India Denies US Pressure on NPCI UPI MDR Circular

By ThePip DeskIndia Denies US Pressure on NPCI UPI MDR Circular

India’s Finance Ministry denies US pressure behind the NPCI UPI Merchant Discount Rates circular, emphasizing independent digital payment policies.

The Indian Finance Ministry has officially refuted allegations that the recent National Payments Corporation of India circular concerning Merchant Discount Rates on UPI transactions was driven by pressure from the United States. Government officials clarified that policy decisions are made independently to strengthen the domestic digital payments ecosystem.

Regulatory Clarifications and Protections

Furthermore, the ministry asserted that the circular does not grant any undue advantages to foreign credit card networks. The government reiterated its commitment to maintaining a fair and transparent regulatory environment for all payment service providers operating within India.

Ecosystem Commitments

The ministry emphasized that domestic payment systems remain protected and competitive under these independent policy measures. Officials maintain that regulatory oversight will continue supporting the growth of national digital infrastructure without external influence.

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