Global Economy

Cabinet approves extension of incentives for UPI transactions up to Rs 2,000 for small merchants



The Union Cabinet on Wednesday approved extending Rs 1,500 crore incentive scheme for small digital transactions, a move aimed to minimise cost of various stakeholders involved in the UPI ecosystem.

The scheme, which covers transactions up to Rs 2,000/- for small Merchants, will be implemented for one year, from April 1, 2024, to March 31, 2025.

Under this initiative, small merchants accepting UPI payments will receive an incentive at the rate of 0.15% per transaction.

(More to come)



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