UPI Payment Cap: Kerala Hotels Stop Digital Payments Over ₹2,000

By The Hindu

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The Kerala Hotel and Restaurant Association announced it will stop accepting UPI payments above ₹2,000 from October 15 following the government's introduction of a 0.4% Merchant Discount Rate (MDR). Small establishment owners led by G. Jayapal expressed concern over rising raw material costs and additional financial burdens, demanding a higher transaction limit or a complete scrap of the fee. Other trade groups like the Kerala Textile and Garments Association voiced similar concerns about potential inflation. Following a trade delegation meeting with Finance Minister Nirmala Sitharaman, the National Payments Corporation of India (NPCI) deferred the rollout until after Diwali to protect festive business. RBI Governor Sanjay Malhotra noted small fees shouldn't hamper transaction volumes across India. #upipayments #mdr #kerala Thank you for watching our video! You can subscribe to our channel here: https://bit.ly/3c8Adi6 Visit https://www.thehindu.com/ for the latest updates, analys

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