Started new Business - PayU vs. Razorpay or Something Else? (Payment Gateway Help!)

All payment aggregators with PA/PG certification from RBI will have to follow similar guidelines. If your business is legit and your KYC is strong then none of the payment gateways will cause a problem from a settlement/blocking perspective.
Phonepe PayU and Razorpay all provide no convenience fees for the starting few months.

I think CCAvenue has the best pricing plans however razorpay's upside is the additional products that you can use which really helps start ups. PayU also has a very competitive pricing plan. PhonePe on the other hand is more expensive.

I would suggest not to look at the payments flow and charges only cause those would be more or less the same, rather look into the reporting/recon/settlement/integration and additional products which are offered by the companies and which are aligned with the requirements of your org.

I have heard good reviews about Juspay too. Have hardly faced any issues while using it.

I integrated phonepe a week ago. It works fine too. No convience fees offer is also there for new customers.

Have 2-3 options ideally for payment

Razorpay, Paytm, cashfree, PayU are most often used

Go for razorpay i would say. Go product stack for businesses