18/09/2026
🔥 ASHNEER GROVER GOT A BLUNT REPLY FROM PHONEPE CEO!
Ashneer Grover questioned the new UPI MDR framework and called the move “tax collection,” arguing that RBI/NPCI surplus should instead be used to subsidise UPI.
But PhonePe CEO & Co-founder Sameer Nigam had a very different response.
👉 “I don’t take critics like Ashneer Grover seriously.”
Nigam defended the new framework, pointing out that around 96% of UPI transactions will remain free, with the MDR applying only to selected higher-value merchant transactions above ₹2,000. He also argued that a sustainable commercial model is needed to keep investing in India’s massive digital-payment ecosystem.
The debate is bigger than one person.
UPI became a global symbol of India’s digital transformation—but maintaining an ecosystem operating at this scale also has real infrastructure and operating costs.
Ashneer has his argument.
PhonePe’s CEO has his answer.
And this time, the response was pretty direct. 💥🇮🇳
“I don’t take critics like Ashneer Grover seriously.”