
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 9, 2026 · 2 min read · By Rishabh Bhardwaj
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Andhra Pradesh Chief Minister N. Chandrababu Naidu and Deputy Chief Minister Pawan Kalyan have congratulated Suvendu Adhikari on being sworn in as Chief Minister of West Bengal, calling the BJP's victory a reflection of public trust in Prime Minister Narendra Modi's leadership.
The congratulatory messages from Naidu and Pawan Kalyan are notable because both lead the Telugu Desam Party and Jana Sena Party respectively, which are key NDA allies at the national level. Their statements frame the West Bengal result as a mandate for Modi rather than just a state-level verdict, reinforcing the BJP-led coalition's political messaging ahead of future electoral cycles.
Suvendu Adhikari, a senior BJP leader and former close associate of outgoing Chief Minister Mamata Banerjee before he switched sides, has now taken oath as West Bengal's new Chief Minister. This marks a significant political shift in a state that the Trinamool Congress had controlled for over a decade.
The BJP's win in West Bengal ends Mamata Banerjee's long run in power and gives the saffron party its first Chief Minister in the state. For the NDA bloc, this is a symbolically important gain, West Bengal has historically been resistant to BJP dominance, making the win politically consequential beyond just seat numbers.
The reactions from Naidu and Pawan Kalyan underline how NDA partners are projecting the result as a national-level endorsement of Modi's governance rather than a purely regional outcome. This framing is likely to influence how the BJP positions itself leading into other state elections.
For West Bengal specifically, a new BJP government would signal potential policy shifts, particularly in areas where the state and central governments had been at odds under TMC rule, including fund flows, law enforcement cooperation, and federally administered schemes.
What to watch: how quickly Adhikari's government moves to distinguish itself from the TMC era on governance and welfare delivery, and whether coalition partners maintain unity as the new administration settles in.

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.