
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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Counting for the Tamil Nadu 2026 assembly election is under way, with results expected to firm up as final rounds are tallied. The outcome will determine which party forms the government in one of India's most politically consequential states.
The source material does not yet carry a confirmed list of winners and losers, as counting is still stabilising. Early trends and critical constituency battles are being tracked, but no final results have been declared at this stage.
Tamil Nadu's 234-seat assembly sees contests primarily between the ruling DMK-led alliance and the AIADMK-led opposition, with the BJP and smaller regional parties also fielding candidates across key seats. Swing constituencies in the Cauvery delta, Chennai suburbs, and southern districts tend to signal the broader statewide trend early.
Control of Tamil Nadu carries significant weight beyond state politics. The state is a major hub for automobile manufacturing, electronics, and textile exports, making its policy direction relevant to investors and businesses operating in South India. A stable majority typically accelerates infrastructure spending and industrial approvals, while a hung assembly would introduce uncertainty over budget priorities and governance continuity.
This page will reflect confirmed winner and loser data as official tallies are released by the Election Commission of India. Readers tracking specific seats should watch for constituency-level updates as each round of counting is declared.

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.