UPI remains free for all person-to-person (P2P) payments in 2026. A new 0.4% Merchant Discount Rate (capped at ₹300) applies only to specified merchant transactions above ₹2,000, effective October 15, 2026. Daily limits stay at ₹1 lakh for P2P and up to ₹10 lakh for select verified merchant categories. New…