PoliticsSupreme Court Seeks Centre's Reply on UPI 0.4% MDR Charges
The Supreme Court refused to stay the Centre's new Merchant Discount Rate (MDR) of 0.4% on UPI transactions above Rs 2,000, effective October 15. The court asked the government for an affidavit explaining the legal basis for the charges. The MDR is capped at Rs 300 for transactions above Rs 75,000, with lower rates for sectors like railways, telecom, and capital markets.
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