
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 10, 2026 · 2 min read · By Rishabh Bhardwaj
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Vijay, the Tamil film actor who founded the Tamilaga Vettri Kazhagam (TVK) party, was sworn in as Tamil Nadu Chief Minister on May 10, 2026, along with nine cabinet ministers.
The article does not provide the names or portfolios of the nine ministers who joined the cabinet, so a full breakdown of the new government's composition is not yet available from this source.
The formation of a TVK government marks a significant shift in Tamil Nadu politics. Vijay, widely known by his screen name and fan following built over decades in Tamil cinema, formally entered electoral politics by founding TVK. A first-time government formation by a party led by a film star with no prior legislative experience at the state level is a notable event in the state's political history.
Portfolio allocations, especially finance, home, and public works, will signal the new government's priorities and which political veterans or technocrats Vijay has chosen to rely on. Watch for the full cabinet list and ministerial assignments to understand how TVK plans to govern.

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.