UPI

Timeline

1. 28 Sep2026
   International

   Trinidad and Tobago pursues UPI-based payments platform, set to be first Caribbean nation on UPI¹²³

   High Commissioner Chandradath Singh said in late September 2026 that Trinidad and Tobago is working to implement a UPI-modelled platform under a 2024 agreement with NPCI International.

   • 2024: NIPL and T&T's Ministry of Digital Transformation agreed to build a UPI-like real-time payments platform
   • High Commissioner Chandradath Singh said T&T is pursuing implementation (remarks reported late September 2026)
   • T&T keeps sovereign ownership; NIPL provides technical expertise
2. 15 Sep2026
   Economy

   Finance Ministry bars charges on UPI payments up to Rs 2,000 and RuPay debit⁴⁵

   A Finance Ministry notification under Section 10A of the Payment and Settlement Systems Act bars charges on UPI transactions up to Rs 2,000 and on RuPay debit card transactions; P2P UPI stays free.

   • Notification dated 14 September 2026 per one report, covered 15 September
   • Section 10A inserted by the Taxation and Other Laws Amendment Act in the 2026 Monsoon Session
   • Transactions above Rs 2,000 are not covered; any MDR there would be threshold-based
   • One outlet gives the notification number as S.O. 5067(E)
3. 6 Aug2026
   Legislation

   Lok Sabha passes Taxation and Other Laws bill with enabling clause on payment charges⁶⁷⁸

   The Lok Sabha passed the Taxation and Other Laws (Amendment) Bill 2026 on 6 August 2026 by voice vote without debate; it amends Section 10A of the Payment and Settlement Systems Act 2007, letting the Centre notify electronic payment modes on which charges may be barred, reopening the door to MDR on UPI.

   • Passed in Lok Sabha 6 August 2026 by voice vote amid protests
   • Amends s 10A of the Payment and Settlement Systems Act 2007
   • Replaces reference to modes under Income-tax Act s 269SU with modes notified by the Centre
   • FM Sitharaman: any MDR would apply to merchants, not users; UPI steering committee yet to decide
4. 9 Jun2026
   International

   India and Nepal link UPI with Nepal's NPI for cross-border remittances⁹¹⁰¹¹

   NPCI International and Nepal Clearing House Ltd launched a real-time person-to-person remittance link between India's UPI and Nepal's National Payment Interface. Users can send money using a mobile number or payment address, initially through select banks.

   • NPCI International (NIPL) and Nepal Clearing House Ltd (NCHL) announced the UPI-NPI link on 9 June 2026
   • Peer-to-peer transfers in both directions using mobile number or payment address
   • Live through select banks, to be expanded
   • Finance Ministry statement followed on 11 June 2026

Exercise.Quizzes on UPI and every other topic arrive on Telegram six times a day, and what you get wrong comes back.

Practise on Telegram

Sources

1. Open Magazine
2. NewKerala (ANI)
3. CXOToday
4. Inc42
5. Moneylife
6. SCC Online
7. The Wire
8. Inc42
9. Nepal Clearing House Ltd
10. All India Radio
11. IANS