Anil Katia

Anil Katia

Anil Katia is a former banker and policy analyst.

UPI's MDR: Wrong Instrument at the Wrong Rate

UPI’s new MDR shifts payment costs to merchants, but its ad valorem design raises questions over pricing logic, small-business impact and cash incentives.

Anil Katia

Ganga Narayan Rath

September 16, 2026 at 11:42 AM IST

Article related image

iStock.com

The Bureau

Indian Equities Rebound Tracking Lenders, Payment Firms; Oil, US Fed Caution Limit Gains

India’s Gilt Market Faces Pressure on Every Front, Curve Seen Bear-Flattening

US House Faces Close Vote on Russian Oil Tariff Bill: Report

Five Trends in India’s Latest Trade Numbers

India July BoP Gets $33.5 bln NRI Deposit Boost, Overall Surplus Hits $20.8 bln

India August WPI Inflation 9.92%, June Figure Revised to 9.97% From 9.87%

August CPI Turns October RBI Meeting Into a Live Rate-Hike Call

India Govt Allows 0.4% MDR on UPI Merchant Payments Above ₹2,000

India’s GDP Data Puzzle: Pronab Sen on Deflators, Revisions and Trust

Video Thumbnail

In Search of the Lesser Florican

Maneet Pal Singh