Industry Defends 0.4% UPI Fee Amid Political Showdown

India's digital payments sector is at the center of a political showdown over the 0.4% fee levied on UPI transactions. Industry bodies have defended the levy as a necessary revenue source for the network. Political leaders and regulators have raised concerns that the fee could hurt small merchants and consumers. The dispute highlights the tension between commercial interests and public policy in the country’s growing fintech landscape.