💳 UPI fees are changing after Diwali

Good morning!

Thursday already.

This one has a rural business creating opportunities for other women, a change coming to some UPI payments, and a Haryana story that goes back thousands of years. Here’s what’s stirring.

At 62, Sanjukta Das from Odisha has grown a piggery and dairy business from ₹10,000 to nearly ₹11 lakh. It now brings in around ₹60,000–₹70,000 a month, employs local workers, supplies milk to women’s self-help groups, and gives other women a place to learn how to start livestock businesses of their own.

This is the kind of growth story I like reading about. 

UPI payments are not suddenly becoming chargeable for customers.

The change is aimed at some merchant transactions above ₹2,000, where a Merchant Discount Rate, or MDR, could apply after Diwali.

The rollout was expected from October 15 but has now been pushed to the second week of November.

Eligible merchants could be charged 0.4% on transactions above ₹2,000.

So a ₹3,000 payment could cost the merchant ₹12, while a ₹10,000 payment could cost ₹40. The charge is capped at ₹300.

Payments up to ₹2,000 will continue without MDR, and some smaller merchants are exempt.

Customers are not supposed to be charged this fee directly.

Because keeping UPI running at this scale costs money.

The system is estimated to cost around ₹20,000 crore a year across infrastructure, cybersecurity, fraud prevention and customer support.

Which leaves a fairly simple question:

If UPI stays free for customers, who should pay for running it?

Read more →

Got your answer? Keep it. I’ll reveal it at the end.

Haryana is known for its farms, wrestling, sports stars and Gurugram.

But underneath that modern picture is a much older story.

From October 19 to 25, Rakhigarhi in Haryana’s Hansi district will host a seven-day festival around its Harappan-era archaeological site.

The festival will bring cultural performances, sports, quizzes, painting competitions and around 80 stalls run by self-help groups and entrepreneurs.

But Rakhigarhi itself is the reason this is worth knowing.

It is one of the major sites associated with the Harappan civilisation, with evidence of organised settlements and urban life dating back thousands of years.

So while Haryana is often associated with what it is today, Rakhigarhi offers a glimpse of what was happening there a very, very long time ago. 

⚡ Power: India will roll out a data centre policy meant to protect consumers from higher power bills.

🌡️ Climate: A very strong El Niño could affect India beyond the monsoon, from winter crops and food prices to water supplies, heat and air pollution.

🌍 World: Global markets are watching US inflation, as investors rethink how long interest rates may stay high. Rising oil prices and debt worries add pressure in Europe.

🚆 Travel: From October 27, train tickets bought at railway reservation counters will also have to include passenger insurance, bringing offline bookings under the same protection available for online tickets.

🌿 North East: Shillong has a new Meghalayan Age Pavilion near Ward’s Lake that shows local crafts, textiles and produce.

🏸 Sports: Unnati Hooda, 19, reached the Asian Games quarterfinals, and her unusual footwork still draws online debate.