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In today's episode of The Daily Brief, we cover 2 major stories shaping the Indian economy and global markets: 1. Who Pays for UPI? The Payments Council of India wants the government to reconsider the zero MDR policy on UPI transactions, citing concerns about sustainability. While the policy boosted digital payments, it eliminated a key revenue source for banks and payment firms. Should merchants pay a small fee to keep the system running? 2. Rupee’s Surprising Comeback After weakening for months, the Indian Rupee has bounced back, thanks to lower inflation, a stronger trade balance, and foreign investment inflows. But will this rally last, or is another dip around the corner? Experts weigh in on what’s next for the INR. Timestamps: 00:00 Teaser 00:43 Intro 01:04 Stories Coming Up! 01:22 Can UPI Stay Free Forever? 07:57 The Rupee’s making a come-back! 14:35 Tidbits Get smarter every day with our daily newsletter. Subscribe here: https://thedailybrief.zerodha.com/ Check out our latest newsletter "Aftermarket Report" here: https://aftermarketreport.substack.com/ Every day, each team member shares something they've learned, not limited to finance. It's our way of trying to be a little less dumb every day. Check it out here: https://onethingwelearned.today/ Listen to this episode on your preferred podcast platform: Spotify: https://open.spotify.com/show/2SJiLdv... Apple Podcasts: https://podcasts.apple.com/in/podcast... Watch this episode in Kannada on @marketsbyzerodhakannada : • Is UPI’s Free Model in Trouble? | The... Disclaimer: Some image(s) may have been created using Al, no copyright infringement is intended. Note: This content is for informational purposes only. None of the stocks, brands or products mentioned are recommendations or endorsements.