SBI, NPCI to Prevent MDR Charges Passing to Consumers
SBI chairman CS Setty highlighted UPI's potential to offer credit via Kisan Credit Card, Mudra loans, and mutual fund overdrafts. He emphasized collaboration with NPCI and lenders to prevent MDR charges from being passed to consumers. About 96% of transactions are exempt from MDR, and new technology to identify these will be ready by October 15. Banks will use system controls and awareness campaigns to ensure transparency and protect small merchants and retail customers.
TOI Business·




