Brind.
  1. BRICS leaders met in New Delhi, discussing the need for major reforms within international organizations like the UN and the IMF, with input from figures like Vladimir Putin.
  2. The 18th BRICS Summit is currently taking place in New Delhi, where members are calling for significant reforms in the WTO and the IMF.

India showcases digital infrastructure at BRICS summit amid UPI transaction fee debate

1 report, 1 independent Updated Sep 20
AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.

What happened

Some supportReported by 1 outlet

India showcased its affordable digital public infrastructure during the BRICS summit. This occurred shortly after the government decided to impose a Merchant Discount Rate (MDR) on UPI transactions exceeding Rs 2,000. The Swadeshi Jagran Manch urged the government to reconsider the MDR, arguing that UPI is a public good and that associated costs are part of banks’ own operations.

From countercurrents.org

Why it matters

Some supportBrind's analysis of the reports

The debate over the MDR on UPI transactions relates to concerns raised by the United States Trade Representative regarding the previous zero-MDR regime. The decision affects the operational costs of digital commerce and the ease of doing business in India.

The 18th BRICS Summit is currently taking place in New Delhi, where members are calling for significant reforms in the WTO and the IMF.

From countercurrents.org

Who's involved

  • BRICSIntergovernmental bloc where India showcased its digital infrastructure
  • Narendra ModiPrime Minister of India, who leads the government making the MDR decision

Who could feel it

Possible knock-on effects

These are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.

  • ChinaSpeculative

    Retailers might face increased costs for digital transactions due to the imposed MDR on UPI.

How it developed

Newest first. Tap a step to see who reported it.
  1. India is pursuing connectivity for its Central Bank Digital Currency (CBDC) within the BRICS bloc.Sub-event
  2. India showcased digital infrastructure at the BRICS summit.1 source

Keep exploring

Part of

The 18th BRICS Summit is currently taking place in New Delhi, where members are calling for significant reforms in the WTO and the IMF. All 2 developments

Within BRICS leaders met in New Delhi, discussing the need for major reforms within international organizations like the UN and the IMF, with input from figures like Vladimir Putin.

The entities involved

Related events

Coverage

Newest first; wire copies grouped