UPI COMPENSATION
UPI Payment failed or stuck? When banks must refund your money and pay ₹100 per day in compensation
Have you ever faced a situation where a UPI payment was debited from your account but not received by the recipient? Discover the steps to handle failed UPI transactions, understand the reversal process, and learn how long refunds typically take. Stay vigilant against potential fraud while navigating the complexities of digital payments.
Lost money to a UPI scam? The first 3 days could decide how much you can recover
In the blink of an eye, UPI scams can wipe out your bank savings, but there's hope for victims. The Reserve Bank of India stands ready to safeguard you against unauthorized transactions. Discover essential actions to take the moment fraud strikes, understand how liability is assessed, and find out what steps to take if your bank turns down your claim.
Banks, schools, colleges and offices holiday tomorrow: What's open and what's closed on November 9, a day after Diwali; check latest announcements
November 9, 2026, will see different holiday arrangements across India following Diwali on Sunday. Gujarat and Tamil Nadu have announced additional holidays, while government offices in Mumbai, Pune and parts of Maharashtra will also remain closed. Banks will largely operate normally, subject to the RBI's city-wise holiday calendar.
7 discount, cashback credit cards for online festive shopping in 2026: One of them is lifetime free
Most of us will engage in festive shopping, making credit cards an appealing choice for discounts and cashback offers. But before choosing a card, analyse fees, rewards, and conditions on cashback. Check these 7 credit cards that are offering up to 10% cashback on online shopping, among other offers. These cards also have a low joining fee and one of them is lifetime free.
UPI MDR rollout pushed; India’s first quantum computer coming soon
Happy Wednesday! The implementation of MDR on select UPI payments has been deferred beyond Diwali. This and more in today’s ETtech Morning Dispatch.
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UPI MDR rollout deferred beyond Diwali; date yet to be notified
NPCI framework, announced on September 15, was scheduled to take effect on October 15. It prescribed a 0.4% fee on eligible bank account-funded merchant payments above Rs 2,000, capped at Rs 300 per transaction.
UPI MDR rollout deferred until after Diwali
UPI MDR charges on eligible merchant transactions above Rs 2,000 have been deferred until after Diwali, with the exact implementation date yet to be announced. The proposed 40-basis-point merchant discount rate will leave more than 95% of UPI merchant transactions by volume free. The pricing change aims to generate revenue for banks and payment companies amid rising digital payments infrastructure costs.
IIT-Bombay study bats to cut MDR to 0.08 pc from 0.4 pc, exclude banks from taking bulk share
A report by IIT-Bombay professors recommends reducing the Merchant Discount Rate for UPI transactions to improve the ecosystem. The current rate of 0.40 percent should decrease to 0.08 percent for third-party application providers. Additionally, the study suggests that banks should not depend on transaction fees but use funds from CASA deposits. It emphasizes the development of necessary services to enhance trust in digital payments.
Compensation of Rs 100 to Rs 5,000 per day for delay by bank in processing your request in these 5 situations
From stuck credit card closure requests to lost property papers, RBI rules require banks to pay you for every day they're late. A customer earlier this year won Rs 3.21 lakh for a delayed credit card closure. Here are 5 situations where the clock ticks in your favour, with compensation ranging from Rs 100 to Rs 5,000 a day.
India to widen services production index to include education, health and defence
The statistics ministry plans to expand the monthly Index of Services Production to cover education, healthcare, public administration and defence, raising its coverage to 78.4% of services GVA from about 60%. The proposed framework could use UPI transaction data to track private education and healthcare activity and government expenditure data for public services.
Bank Strike: Will banks remain closed on all Saturdays? Latest update on bank five days working week
Bank five days working: The nationwide bank strike planned for September 28–30, 2026, has been deferred after talks between the Indian Banks' Association and the United Forum of Bank Unions. A high-level committee will examine the demand for a five-day banking week and holidays on all Saturdays. However, banks have not yet officially shifted to a five-day workweek, and the second and fourth Saturdays remain the regular bank holidays.
ETMarkets Smart Talk| F&O STT, UPI charges and trading costs: Sandeep Neema on the hidden drag on retail returns
In this segment of ETMarkets Smart Talk, we speak with Sandeep Neema, Director and Fund Manager at PL Asset Management, about the real risks facing retail investors, the hidden cost of excessive trading, and why he believes the market is increasingly rewarding discipline over churn.
ETMarkets Smart Talk| Fed, dollar, crude, rupee: The four-way squeeze Indian markets need to watch, Sachin Shah decodes
In this episode of ETMarkets Smart Talk, Sachin Shah, Executive Director and Fund Manager at Emkay Investment Managers, decodes the four-way interaction between the Fed, dollar, crude and rupee—and explains what it could mean for Indian equities, capital flows and valuations.
Sonam Wangchuk leads march in Leh
Sonam Wangchuk led a march in Leh alongside civil society members, commemorating the anniversary of four protest deaths. Similar protests occurred in Kargil, where hundreds expressed their demands for statehood and safeguards. Participants are set to gather in Leh for a significant event to honor the deceased and discuss ongoing governmental dialogue.
Government may do away with UPI subsidies as MDR revenue kicks in
Government may end UPI subsidies for small transactions as merchant fees are introduced. Taxpayer-funded incentives for UPI and RuPay transactions are being phased out. No new subsidies have been paid for transactions since April 2025. This shift aims to make the payment ecosystem self-sustaining and reduce taxpayer burden. Incentive disbursements have significantly decreased in recent fiscal years.
Spinny books IPO ride; UPI subsidies may end
Spinny has confidentially filed for its initial public offering. This and more in today’s ETtech Top 5.
Techie starts with Rs 3.2 lakh at TCS, lands Rs 40 lakh Amazon role within a year
Sourabh Mishra’s reported career journey from a Tier-3 government college to Amazon has gained attention online. According to an X post, he began at TCS with a Rs 3.2 lakh annual package after prioritising GATE preparation during college. About a year later, he reportedly moved to Amazon, where he now works as a Cloud Engineer and earns more than Rs 40 lakh annually.
Sharing your salary with everyone? Woman explains the comparisons and pressure it can create
A woman on social media shared her advice on discussing salaries, urging people to be selective about revealing their exact earnings to friends, relatives and colleagues. She said salary conversations can help with compensation negotiations, understanding market rates and job changes, but openly sharing precise figures may invite comparisons and expectations. Her comments have prompted an online discussion about workplace and personal finances.
Das Kapital formation: Bengal needs clear intent to build industry, not shallow politics
West Bengal debates industrial land assembly mechanisms like acquisition and land pooling. Attracting capital requires institutional credibility and confidence in stable rules. The government is examining land pooling and industrial park development. Large contiguous land parcels are essential for investor confidence and project execution. Genuine intent to build industry is needed, not just political rhetoric.
Saving face, from the sun: China's facekini boom isn't just about fair skin
Across various regions in Asia, especially in China, a cultural affinity for lighter skin tones remains prevalent. Women are adopting facekinis and other UV-blocking garments to protect their skin from sun exposure. This phenomenon is often justified through health benefits and anti-aging claims rather than being recognised as colourism.
UPI charges from October 15: FAQs on who will pay 0.4% MDR and what consumers, small vendors & large merchants need to know
UPI Payment: UPI transactions of up to Rs 2,000 will continue to be free for users. A new Merchant Discount Rate (MDR) will be introduced for certain merchant transactions above Rs 2,000. The revised framework is aimed at supporting investments in UPI infrastructure, innovation and cybersecurity. Most person-to-merchant (P2M) transactions are expected to remain unaffected. The new provisions will come into effect from October 15, 2026.
UPI fee: Why govt is putting a price on big merchant payments
The National Payments Corporation of India, which operates the UPI network, said the revenue will support investment in infrastructure resilience, cybersecurity, fraud prevention, innovation and customer service.
Paytm will stay profitable even without MDR, government support: Vijay Shekhar Sharma
His comments come as the government moves towards allowing charges on a limited set of UPI transactions. On Monday, the government notified that UPI transactions of up to Rs 2,000 will remain free of MDR, while leaving the door open for levies on higher-value transactions.
Water bottle sold Rs 7 above MRP at temple shop, consumer court orders shopkeeper to pay Rs 7 lakh
The Kakinada district consumer commission has fined a shop licensee operating inside the Sri Veera Venkata Satyanarayana Swamy Temple at Annavaram after he charged a devotee Rs 25 for a one-litre water bottle marked at Rs 18. The commission ordered the licensee to deposit Rs 7 lakh in the Consumer Welfare Fund and pay the devotee a refund, compensation and litigation costs, calling the overcharging a serious unfair trade practice at a pilgrimage site.
Real estate firm promised Rs 60,000 every month for a Rs 17.5 lakh investment, paid Rs 30,000 for six months, then stopped; court orders company to pay client over 55 lakh
A Hyderabad consumer commission has ordered a real estate company to pay over Rs 55 lakh to a customer after finding that it stopped honouring a lease agreement tied to a white sandalwood plantation investment. The customer had invested Rs 17.5 lakh in 2023 on the promise of Rs 60,000 a month, but received only Rs 30,000 for six months before payments stopped altogether.
Hack of the Day: How to claim compensation for failed UPI payments?
Hack of the day: Learn how to claim a refund and possible compensation for failed UPI payments in India. If a UPI transaction fails but money is debited, banks must reverse it within one business day (T+1). If delayed, you can dispute through your app and escalate to RBI CMS or Banking Ombudsman for relief.
IPOs: Sebi streamlines payment process via UPI
The new format has been put in place after reviewing the performance of SCSBs on timely unblocking of application amounts and feedback received from market intermediaries, Sebi said in a circular.
Sebi proposes to streamline IPO process via UPI
The regulator said based on the experience gained with the current UPI system, it has identified certain issues based on the feedback from market participants.
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