Arjun Singh
Arjun Singh is a student interested in finance, economics and financial markets. He wrote this article with guidance from Rishabh Sethi, a professor at the University of Petroleum and Energy Studies (UPES), whose mentorship helped refine its financial and analytical perspective.
UPI MDR has a blind spot – mid-sized businesses
A Rs 300 cap means the biggest UPI payments pay the smallest share. The new MDR squeezes slim-margin shops, risks pushing them back to cash and sets back Digital India, and offers three changes to make the UPI fee fairer for small businesses.


