UPI will remain free for consumers, Nirmala Sitharaman tells Rajya Sabha

Amid the Opposition walkout, the Rajya Sabha passed the Bankers’ Books Evidence Bill and returned the Taxation and Other Laws (Amendment) Bill on Monday (August 10, 2026). Countering the Opposition’s charge that the Taxation Bill proposed further burden on small traders and consumers by imposing a tax on Unified Payments Interface (UPI) transactions, Finance Minister Nirmala Sitharaman said they would remain free for consumers. She added that once the Bill was passed, the National Payments Corporation of India could finalise the Merchant Discount Rate (MDR), which would be applied to to certain categories of merchant transactions. The Upper House had witnessed disruptions and adjournments in the morning too.