New Delhi, September 16, 2026 (Yes Punjab News)
Five Congress MPs, including former Finance Minister P. Chidambaram and former Union Minister Manish Tewari, were part of the Parliamentary Standing Committee on Finance that endorsed a tiered Merchant Discount Rate (MDR) and revenue framework for Unified Payments Interface (UPI), according to the committee’s adopted report.
Besides Chidambaram and Tewari, the Congress MPs on the committee were Gaurav Gogoi, Kishori Lal and K. Gopinath. All five were present when the report was adopted on August 12, and the published minutes record no dissent.
The development comes amid Lok Sabha Leader of Opposition Rahul Gandhi’s criticism of the Centre over what he described as a decision to “impose” charges on UPI transactions above Rs 2,000.
The Finance Committee had called for a tiered MDR/revenue mechanism to be notified and operationalised without delay. It said a sustainable revenue model was necessary to ensure the long-term financial viability of the UPI ecosystem without placing a continuing burden on the government exchequer.
The panel recommended that, alongside the proposed three-year multi-year scheme and cashback measures intended to expand digital payments in Tier 3 to Tier 6 cities, the Department of Financial Services should work towards a self-reliant, tiered revenue model.
It also noted that legislative provisions enabling a tiered MDR structure had been brought forward in line with earlier recommendations. According to the committee, statutory provisions now allow calibrated MDR on high-value transactions, while delays in implementing the framework could leave payment service providers dependent on subsidies and affect investments in cybersecurity, fraud prevention and network infrastructure.
On Wednesday, NDA leaders rejected Gandhi’s concerns and his allegation that the move was taken under US pressure.
Union Minister Ramdas Athawale said the decision concerning UPI transactions of up to Rs 2,000 was fair and would not adversely affect small vendors and businesses. He also rejected the allegation of US pressure.
“Rahul Gandhi’s allegation that this step was taken under US pressure is completely baseless. Rahul Gandhi is adept at spreading falsehoods and habitually makes misleading claims on various issues. America has nothing to do with this decision,” Athawale said.
BJP MP Gulam Ali Khatana also defended the government’s position and accused the Congress of attempting to create fear among people over the issue.
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