Government directs banks to stop merchants passing UPI charges to consumers
The government has instructed banks to ensure that merchants do not pass UPI merchant payment charges to consumers amid backlash. Madhya Pradesh traders observed a 'No UPI Day' demanding rollback of MDR charges. NPCI stated only 10% of transaction value might incur charges, and 96% of transactions remain unaffected. The government may review MDR exemption for petrol pumps.
The Times of India·1d ago



