Lord Posted 2 hours ago Posted 2 hours ago 7 hours ago, coffee_rules said: 96% of transactions on UPI is below ₹2000. Any amount of P2P transactions is not charged. There is a 0.4% charge on transactions about 2000. So typically for a ₹10,000 transaction, a 40 rupee fee is charged. This week is charged to the merchant and/ or the bank. Even if it discharged to the Customer, 0.4% is not too much for the customer to bear. The overheads of UPI platform was subsidized by the government. That means it was the income tax/corporate tax/GST paid by citizens was paying for the infra. Now the extra burden needs to be Borne by the merchant/bank/rich customers only. Nothing is free in this world. Customers pay very high interest for credit cards and the banks for maintaining minimum balance. This is very negligible compared to petrol fee hike. Rotlu crowd will cry in any case. Credit cards are debt totally different. Its not as popular as UPI in India also. The prices will increase and cash usage will increase again. If we want to tackle corruption, moving towards cashless transactions even for big amounts is necessary, Infra costs can be funded through taxes even now. So much goes in freebies anyway coffee_rules 1
BCCISelector Posted 1 hour ago Posted 1 hour ago (edited) 11 hours ago, Trichromatic said: How is this loophole covered? Customers can pay 2000 4 times instead of paying 8k? There are many such loopholes. For example, Google can hire lakhs of people to repeatedly do deposit + withdrawal of money in/from their stock broker accounts using GPay. Seems like an unlimited money glitch for payment apps. Edited 1 hour ago by BCCISelector
saransh Posted 1 hour ago Posted 1 hour ago 16 minutes ago, Lord said: Credit cards are debt totally different. Its not as popular as UPI in India also. The prices will increase and cash usage will increase again. If we want to tackle corruption, moving towards cashless transactions even for big amounts is necessary, Infra costs can be funded through taxes even now. So much goes in freebies anyway Correct. Why can't government reduce money from schemes like MNREGA and ladli behna etc etc. Offcourse how will the buy votes then. Middle class in this country absolutely accepts everything thrown to them by the govt. Lord 1
zen Posted 1 hour ago Posted 1 hour ago 10 minutes ago, saransh said: Correct. Why can't government reduce money from schemes like MNREGA and ladli behna etc etc. Offcourse how will the buy votes then. Middle class in this country absolutely accepts everything thrown to them by the govt. Many times such schemes are introduced so the lower level politicians and party workers can benefit.
coffee_rules Posted 29 minutes ago Posted 29 minutes ago 1 hour ago, Lord said: Credit cards are debt totally different. Its not as popular as UPI in India also. The prices will increase and cash usage will increase again. If we want to tackle corruption, moving towards cashless transactions even for big amounts is necessary, Infra costs can be funded through taxes even now. So much goes in freebies anyway Yes, cut down your ladla saala bhen, free bus electricity and free ration for 80 crore people and spend on digital infra, education, hospitals, etc. But billi ki ghanti kaun bajayega Lord 1
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