Ramesh hits back at Sitharaman over UPI law changes

Congress leader Jairam Ramesh on Friday rejected Finance Minister Nirmala Sitharaman's defence of proposed changes to the Payment and Settlement Systems Act, calling her claims 'dubious' and warning that allowing Merchant Discount Rate (MDR) would hurt small merchants and consumers. He argued that the RBI could fund UPI infrastructure using its surplus transfer, and questioned the timing of the amendment, which follows US criticism of India's digital payments system.