PoliticsSupreme Court Seeks Response on UPI MDR Charges from Centre, RBI, NPCI
The Supreme Court has issued notices to the central government, RBI, NPCI, and others regarding the imposition of Merchant Discount Rate (MDR) on select UPI transactions above ₹2,000. The court has asked for responses within four weeks. The petition challenges the Finance Ministry's notifications dated September 14 and 15, seeking to cancel the MDR on certain Person-to-Merchant UPI payments, effective from October 15, 2026, with a 0.4% MDR on general P2M transactions.
News18Hi Business·3h ago