Thursday, 20 February, 2025

Banks and Fintechs Await Delayed UPI Subsidy Payments Amid Reduced Government Allocation

Banks and fintech companies in India are currently awaiting the disbursement of government subsidies intended to promote digital payments through the Unified Payments Interface (UPI). Despite submitting applications, no funds have been received to date. This subsidy program is designed to compensate for the waived Merchant Discount Rate (MDR) fees.