BJD leader urges alternative funding for UPI to protect small businesses

Biju Janata Dal (BJD) leader Santrupt Misra has called on the Indian central government to identify alternative funding sources for the Unified Payments Interface (UPI) to support infrastructure upgrades and cybersecurity. Misra emphasized the need to protect small businesses and consumers from additional financial burdens.

The call follows concerns raised by BJD President Naveen Patnaik regarding a recently announced 0.4 per cent Merchant Discount Rate (MDR) on certain UPI transactions exceeding Rs 2,000. Misra argued that while UPI is a vital innovation, the focus should be on sustainable investment models rather than imposing extra charges on small traders and shopkeepers.

Additionally, Misra urged the Parliament Standing Committee on Finance to increase transparency regarding discussions on the UPI tax proposal and requested clarification from Committee Chairperson Bhartruhari Mahtab on the nature of any deliberations held on the matter.