Archive · 18 Sep 2026
UPI Charges, Fed Hike, Oil Tariffs And Celebrity Controversy
Several important stories made headlines during the week.
UPI payments above ₹2,000 will soon cost merchants an extra fee, although customers will not pay it directly.
Small UPI payments and person-to-person transfers will remain free.
The United States may impose very high tariffs on countries that buy Russian oil, which could affect India.
The US Federal Reserve also raised interest rates, making some borrowing more expensive.
In cricket, Abhishek Sharma broke important T20 records.
Actress Katrina Kaif was criticized online after a public appearance with her son.
The stories covered money, international relations, sport and internet behavior.
From October 15, merchants will pay a 0.4% MDR on person-to-merchant UPI payments above ₹2,000, capped at ₹300.
The US House advanced Russia sanctions that could enable tariffs of up to 100% on countries including India and China buying Russian oil.
The Federal Reserve raised its benchmark interest rate by 25 basis points to around 3.9%, with another hike possibly reaching 4.1%.
Indian cricketer Abhishek Sharma became the second-fastest player to reach 6,000 T20 runs and set a record for India’s fastest T20I century.
Katrina Kaif faced renewed online body-shaming after appearing with her son at the Ambanis’ Ganpati celebration.
- Who
- Merchants and UPI users in India, the governments of the United States, India, Russia and China, the Federal Reserve, Abhishek Sharma and Katrina Kaif.
- What
- The week’s major developments included a new UPI merchant fee, possible tariffs on Russian-oil buyers, a US rate hike, cricket records and renewed trolling of Katrina Kaif.
- When
- The roundup was published on September 18, 2026; the UPI fee is scheduled to begin on October 15.
- Where
- The developments involve India, the United States, Russia, China and Afghanistan, while Katrina Kaif’s appearance took place at the Ambanis’ Ganpati celebration.
- Why
- The UPI fee will be charged to merchants on qualifying transactions; the proposed tariffs are linked to purchases of Russian oil; the rate hike affects borrowing costs and global markets.
- UPI merchant fee
- 0.4% on person-to-merchant payments above ₹2,000
- UPI fee cap
- ₹300 for transactions of ₹75,000 or more
- UPI start date
- October 15
- Potential oil-related tariffs
- Up to 100% on countries buying Russian oil
- Federal Reserve decision
- A 25-basis-point increase to around 3.9%
- Possible further US rate
- Around 4.1% later in the year
- Cricket achievement
- Abhishek Sharma became the second-fastest player to reach 6,000 T20 runs