March 24, 2025 3:48 PM

Cashless India: ₹1,500 crore incentive scheme for low-value BHIM-UPI transactions

The Union Cabinet has approved a ₹1,500 crore incentive scheme for the financial year 2024-25 to promote low-value BHIM-UPI transactions and encourage digital payments among small merchants. The initiative aims to strengthen India’s digital payment ecosystem by ensuring zero Merchant Discount Rate (MDR) on UPI transactions and providing a 0.15% incentive for transactions up to ₹2,000 made to small merchants. With a focus on expanding UPI infrastructure in rural and semi-urban areas, the ...