{
  "id": 7741262,
  "title": "Zerodha, INDmoney Flag UPI MDR Impact On Brokers, Kamath Seeks ₹5-10 Cap",
  "url": "https://urgent.news/2026/09/16/zerodha-indmoney-flag-upi-mdr-impact-on-brokers-kamath-seeks-5-10-cap",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-16T08:11:30.000Z",
  "source": {
    "name": "Inc42",
    "slug": "inc42",
    "url": "https://inc42.com/buzz/zerodha-indmoney-flag-upi-mdr-impact-on-brokers-kamath-seeks-%e2%82%b95-10-cap/"
  },
  "original_language": "en",
  "account": "Investment platforms Zerodha and INDmoney have raised concerns about the new UPI merchant discount rate (MDR) framework's potential cost impact on their operations. Zerodha's CEO Nithin Kamath proposed capping the MDR charge on broking transactions at ₹5 or ₹10, while INDmoney's founder Ashish Kashyap used hypothetical scenarios to illustrate the potential costs for investment platforms. Under the new UPI MDR framework, capital market transactions will attract a 0.02% MDR, capped at ₹300, affecting payments to stockbrokers, securities dealers, mutual funds, and investment platforms.",
  "summary": "Investment platforms Zerodha and INDmoney have flagged the cost impact of the new merchant discount rate (MDR) on UPI transactions,…",
  "key_points": [
    "Zerodha CEO Nithin Kamath proposes capping UPI MDR at ₹5 or ₹10",
    "INDmoney founder Ashish Kashyap highlights potential costs for investment platforms",
    "New UPI MDR framework affects payments to brokers and investment platforms"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}