Supreme Court Questions Government on UPI MDR Charges

The Supreme Court on September 28, 2026, refused to stay the government's decision to impose a 0.4% Merchant Discount Rate (MDR) on UPI person-to-merchant transactions above ₹2,000. A three-judge bench led by Chief Justice Surya Kant issued notice to the Union of India and asked for counter affidavits within four weeks. The MDR was introduced by NPCI from October 15. Justice Joymalya Bagchi questioned the nature of MDR, asking why it is considered expropriation if it is neither tax nor fee.

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