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of <h1>Government Launches Rs 1,500 Crore Incentive Scheme for UPI Transactions Below Rs 2,000 in FY 2024-25</h1> The Union Cabinet has approved a Rs 1,500 crore incentive scheme to promote UPI transactions below Rs 2,000 for the financial year 2024-25. The government will cover the Merchant Discount Rate (MDR) for payments under Rs 2,000 made to merchants. The scheme, effective from April 1, 2024, to March 31, 2025, aims to encourage low-value BHIM-UPI transactions (Person to Merchant) by providing a 0.15% incentive per transaction for small merchants.
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