Comments from NPCI are awaited.
The meeting comes a day after the government’s September 14 gazette notification formalised zero-MDR charges for UPI transactions below ₹2,000.
The industry is expecting an MDR of around 40 basis points for UPI transactions above ₹2,000, according to sources.
The UPI steering committee will be led by NPCI CEO Dilip Asbe and Executive Director Sohini Rajola.
The UPI steering committee is the authorised body responsible for deciding rules governing the UPI platform.
The committee has 22 members, including representatives from private and public sector banks, small business finance companies, UPI apps and industry bodies such as the Payments Council of India (PCI) and the Indian Banks’ Association (IBA).The meeting is expected to discuss the MDR rate applicable to UPI transactions above ₹2,000 following the government’s notification on zero-MDR charges for transactions below the threshold.
NPCI comments are awaited.
First Published: Sept 15, 2026 2:41 PM IST
