Mayawati criticises Centre's 0.4% UPI merchant fee plan

Bahujan Samaj Party chief Mayawati has criticised the Centre’s plan to impose a 0.4 per cent fee on Unified Payments Interface (UPI) merchant transfers exceeding Rs 2,000 from October 15. She described the move as a capitalist profiteering attitude that will increase expenses for the common people.

Mayawati said the majority of the country’s population suffers from extreme poverty and inflation, with children facing illiteracy and unemployment. She warned that regardless of the system’s name, the new fee will ultimately burn a hole in the pockets of ordinary citizens. The government, however, has exempted everyday person-to-person transactions and small payments from any charge. The finance ministry clarified that customers will not be required to pay any fee when making such payments through UPI.