Budget 2024 slashes incentives for RuPay debit cards
Thu, Feb 1, 2024 2:20 PM

Budget 2024 slashes incentives for RuPay debit cards

A Flip by Shubhangi Gupta
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The Indian government has reduced the budget for promoting RuPay debit cards and low-value BHIM-UPI transactions by 42 percent compared to last year. The incentive scheme, which was initially for one year, has now been extended and aims to increase digital payments, especially through UPI. The move to eliminate MDR on UPI and RuPay transactions has sparked a debate among stakeholders.

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