Govt Cuts Incentives For RuPay, UPI Transactions

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SUMMARY

The budget document tabled by Finance Minister Nirmala Sitharaman revealed a reduction in the incentive scheme for promoting RuPay debit cards and low-value BHIM-UPI transactions (person-to-merchant) from INR 2,000 Cr last year to INR 437 Cr for the upcoming fiscal year.

However, the INR 2,000 Cr allocation in 2024 was a revised estimate against the INR 1,441 Cr earmarked in the budget estimate for 2024.

While broader new-age stocks saw a rally in the stock market today, fintech shares like MobiKwik, Paytm, and PB Fintech, under…



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Govt Cuts Incentives For RuPay, UPI Transactions


SUMMARY

The budget document tabled by Finance Minister Nirmala Sitharaman revealed a reduction in the incentive scheme for promoting RuPay debit cards and low-value BHIM-UPI transactions (person-to-merchant) from INR 2,000 Cr last year to INR 437 Cr for the upcoming fiscal year.

However, the INR 2,000 Cr allocation in 2024 was a revised estimate against the INR 1,441 Cr earmarked in the budget estimate for 2024.

While broader new-age stocks saw a rally in the stock market today, fintech shares like MobiKwik, Paytm, and PB Fintech, under…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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