Post

@deepakshenoy They ought to ask wealthy farmers to pay something in direct taxes and continue keeping this free as public infrastructure. Makes no sense that farmers with 10-100+acres pay nothing and existing tax payers have to find a way to fund everything.

@deepakshenoy I think the mdr can be useful on rupay based credit cards. I think it already exists (1% or some such)

@deepakshenoy One year of Ladki Behena yojana can find UPI for like 100 years.

@deepakshenoy Upper cap on MDR helps 👍

@deepakshenoy UPI benefit went to bank and rbi and costs went to Google pay and phone pay

@deepakshenoy I won't be surprised if this greedy as fuck govt put 18% gst on blood donation too

@deepakshenoy Agree. But idiots everywhere.

@deepakshenoy Will mdr be also applicable when I Fund my account @zerodha or @_groww ?

@deepakshenoy They don't even realize all the GST uplift is due to UPI payments. All the shopkeepers are showing minimum some cash and all the UPI sale forcefully which used to be cash earlier. That someone who has to pay should definitely be the government.

@deepakshenoy Switch to digital erupee

@deepakshenoy Moving to a percentage based MDR is effectively yielding authority to a rent-seeking oligarchy (or monopoly, if NPCI is the collector) and a failure of the government to live up to its role as a representative of the people's interests

You could reply: > A flat cap on charges can make sense, especially for a high-volume digital payment system where marginal transaction costs are low. The key is to balance sustainability for payment providers with keeping UPI affordable and accessible for users and merchants. A transparent pricing framework would help maintain trust.

@deepakshenoy Instead have an annual fees like debit cards have for n number of higher transactions.

@deepakshenoy RTGS is not free

@deepakshenoy Why don't use UPI data to find GST and Income tax evasion, also cost of Printing notes is reduced, They can think of Annual Subscription for high Level like Resturants , Shopping,Others

@deepakshenoy Move will increase Cash Economy. Someone must have got the contract to print notes or may be supplying raw materials to print notes.

@deepakshenoy Americanisation. Convert all revenue streams to % of top line. Master/Visa type, they want to take few bips on gross flows in economy!! Even Worse than net GST by govt Remember MF request processing? CAMS pushed biz from fixed & per txn to AUM based years ago

@deepakshenoy First make them habitual of something by giving it free and then charge it. Good business strategy. But this will bring back cash expenditure back specially for small vendors and i wont blame them. I guess i will have to start carrying wallet again. :)

@deepakshenoy Govt is thinking GST on mdr

@deepakshenoy curious when UPI transection is not credit or loan why transfer has such high cost..its like 4-5% interest per annum..

@deepakshenoy Rtgs or NEFT is not free at all. Banks charge transaction fee

@deepakshenoy Banks earning heavily due to increase in casa deposits due to upi. Banks must bear mdr charges

@deepakshenoy Great initiative by government to push back country for more cash transactions.

@deepakshenoy Devils is in the volume. 😬🤷🏼‍♂️

@deepakshenoy UPI is comparable to Debit card or IMPS and not NEFT or RTGS

@deepakshenoy You would be surprised to know that NEFT and RTGS is in fact not free. The Sender / Receiver Bank have a fee agreement for compensation of the use of Banks OS. This of course gets indirectly billed in annual charges of bank

@deepakshenoy Instead, they should let banks charge an annual fee of 100-500 for upi usage. Btw, i feel this move is under pressure from Trump as upi is earing away the share of visa and mastercard payments

@deepakshenoy It’s tax terrorism. Honest tax payers particularly salaried employees are fleeced again and again and again.

@deepakshenoy So cashless society in Europe/Uk is much better as there is no charge on use of visa/mastercard ! Now Whats benefits of upi?

@deepakshenoy Bring cash back

@deepakshenoy Totally agree. It will disturb the system. Should make it per transaction basis instead of %. The resource used is same for each transaction.

@deepakshenoy Another decision influenced by the American financial lobby. It cuts currency printing costs, reduces black money and cash handling expenses, while pushing more money into banks, giving them cheaper deposits and greater liquidity.

@deepakshenoy We can’t compare NEFT/RTGS to UPI in P2M case.

@deepakshenoy Neft and RTGS are free?? Since when??

@deepakshenoy Rtgs neft 5.9 rs per transaction

@deepakshenoy Neft is free. Rtgs is chargeable by many banks.

@deepakshenoy x.com/BullnBear6/status/208543…

@deepakshenoy @chandrarsrikant

@deepakshenoy Using cash only way but that too only 5 times free from atm

@deepakshenoy This is horrible. We are passing many personal transections far above 2000/- For instance, medicines, rents, hospital opds, school fees, domestic salaries, glossaries. Why must they hit a productive efficiency of Economy? What for? This gov is increasingly tone deaf.

@deepakshenoy Government babus understand percentages very well

@deepakshenoy They just killing UPI for US sake , as visa Mastercard has some extra fee.

@deepakshenoy How about an annual charge(optional), say 20 bucks per year for the account instead of per transaction. Just like a subscription. Suppose there are 500 million users and even 200 m choose this option, wouldn't this solve all problems??

@deepakshenoy Govt doesn’t want white money transactions. Thats the whole idea. So back to using cash and wallets. And with the polymer notes from A1-A2 that seems to be the idea of this third class visionless government.

@deepakshenoy India is run by bureaucrats. You can’t escape irrationality.

@deepakshenoy AB fund CEO suggested fees for UPI payments . Huh 🤔 huh

@deepakshenoy Did you read @jasuja 🧵on this? Seems to me the only merchants who matter are Alphabet and Walmart.

@deepakshenoy % are the future . In #Lucknow #NagarNigam For self occupied houses a high Average Rental Value(ARV) is determined. Water charges are 12.5% Sewage charges are 2.5% House Tax =30.5% Of this Average rental Value. 45.5% of ARV is collected annually. Nobody who is taxed is spared

@deepakshenoy Just brought in to help gpay n phonepe make money as they have 80% market share and both are US backed entities. Our govt being bending in front of USA is so gross at this level and we dream of becoming a Vishwaguru.

@deepakshenoy Cash is bad for any govt, printing cash costs more UPI saves some money for GOI MDR charges are inevitable, don't go bonkers on it. Visa, Mastercard charges much higher 3-4% to merchants hence merchants put min limit to accept the cc payment This is good for future infra NPCI