
India to Restore UPI Merchant Fees, PhonePe Gains Most
India's government plans to amend the Payment and Settlement Systems Act to restore UPI merchant discount rates, ending the zero-MDR regime in place since January 2020.
Key Takeaways
May 4, 2026 · 2 min read · By Rishabh Bhardwaj
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The United Democratic Front (UDF) has swept Wayanad district in the Kerala Assembly election results of 2026, with Congress candidate Usha Vijayan defeating sitting minister O.R. Kelu of the CPI(M) by a margin of 10,543 votes, one of the more striking individual defeats of the count.
Kelu was a sitting Cabinet minister in the outgoing Left Democratic Front (LDF) government, making his loss a high-profile casualty of the UDF's strong performance in the district. A margin of over 10,000 votes signals a clear and decisive rejection rather than a narrow swing.
Wayanad has been politically significant in recent cycles. The district borders Tamil Nadu and Karnataka, has a large tribal and agricultural population, and has seen repeated focus on land rights, forest policy, and the aftermath of the 2023 landslides. A clean UDF sweep here suggests the LDF struggled to convert its governance record in the district into votes.
Losing a sitting minister with this margin is particularly damaging for the CPI(M). Ministers carry visible campaign advantages, local project announcements, administrative access, and name recognition, so a five-figure defeat for Kelu points to strong anti-incumbency or a well-organised Congress ground push, or both.
The full Wayanad seat tally and the statewide UDF versus LDF seat count will determine whether this district result is part of a broader wave or a localised swing. If the UDF forms the government, Wayanad's results will have contributed meaningfully to that majority. For the CPI(M), the loss of a Cabinet-level leader in this district will likely prompt internal review of both candidate selection and local governance delivery.

India's government plans to amend the Payment and Settlement Systems Act to restore UPI merchant discount rates, ending the zero-MDR regime in place since January 2020.
India's government has introduced the Taxation and Other Laws (Amendment) Bill, 2026, proposing changes to payments regulation, income tax, and the Finance Act to attract FDI and support Make in India. The Bill's final shape will depend on parliamentary debate and committee review.
The government's Taxation and Other Laws (Amendment) Bill, 2026, proposes to replace the blanket UPI MDR ban with a system allowing the Centre to notify which payment modes stay fee-free.
Prime Minister Narendra Modi inaugurated the Rs 5,000 crore Bhogapuram greenfield airport in Andhra Pradesh, built under a public-private partnership model. He also laid foundation stones for infrastructure projects worth nearly Rs 18,000 crore in the state, signalling a broad investment push for the region.