Sayli Gadakh

Rising interest rates and 5.5 per cent inflation can put household budgets under pressure, forcing even financially disciplined families to reconsider their priorities. Bharath, a 32-year-old salaried professional, had always believed that a steady income and disciplined savings were enough to secure his family’s future. Every month, he paid his home-loan EMI, set aside money for his parents, covered household expenses and invested a small amount for the future. However, as grocery bills,...

Technology can handle repetitive work, while professionals can provide judgement and guidance. Bharath owns a small trading business. Over the last few years, his business has grown, and he now has regular customers, employees and several suppliers. He spends most of his day taking orders, speaking to customers, managing payments and solving daily business problems that come up as part of running the business. One month, while preparing for his GST return, Bharath realised that some purchase...

Bharath walks into a shop to buy a mobile phone worth ₹50,000. He scans the UPI QR code, enters the amount and within seconds, the payment is done. There is no cash, no card and no extra charge visible to him. For Bharath, UPI is simply a convenient and almost effortless way of making a payment. But what happens on the other side of that QR code? The introduction of the new Merchant Discount Rate (MDR) framework brings this question into focus. From October 15, 2026, specified UPI...