Tag: merchant discount rate
Your Money: How small UPI spends can wreck your budget
Eighty six percent of UPI, person to merchant (P2M), transactions are below ₹500. Over the last decade, slowly but surely, our expenses have gotten invisible….
Supreme Court questions Centre, calls for ‘facts’ over MDR for UPI transactions over ₹2,000
The Supreme Court on Monday sought the response of the Centre on a petition challenging the government’s decision to introduce a Merchant Discount Rate (MDR)…
Ministry of Finnace to engage with banks and traders to allay Merchant Discount Rate concerns
New Delhi: The finance ministry will reach out to the Indian Banks Association (IBA) to ensure Merchant Discount Rate (MDR) charges are not passed on…
FM Nirmala Sitharaman clarifies UPI MDR charges won’t affect consumers, hits out at opposition over misinformation
Union Finance Minister Nirmala Sitharaman on Monday said Merchant Discount Rate (MDR) charges on Unified Payments Interface (UPI) transactions will not be passed on to…
‘Everything on record’: Parliamentary Finance panel chief defends unanimous Standing Committee report amid UPI MDR row
New Delhi [India]: Parliamentary Standing Committee on Finance chairman and BJP MP Bhartruhari Mahtab on Saturday defended the committee’s report on the Demands for Grants…
Finance Ministry rejects US pressure claims over new UPI MDR, says RuPay has no special edge
The Finance Ministry on Thursday rejected allegations that US pressure influenced the decision to impose a 0.4% Merchant Discount Rate (MDR) on select UPI payments,…
NITI Aayog VC defends UPI merchant fee, says businesses must be self-sustainable
NITI Aayog Vice Chairman Ashok Kumar Lahiri on Wednesday defended the government’s decision to impose a merchant discount rate (MDR) on UPI transactions, saying businesses…
Petition in Supreme Court says scrap new UPI merchant fees; may burden consumers
A petition was filed in the Supreme Court on Wednesday, challenging the Centre’s newly notified framework allowing Merchant Discount Rate (MDR) on specified high-value commercial…
Finance Ministry rejects foreign influence claims over UPI MDR, says India’s digital payments decisions are made independently
The finance ministry on Wednesday rejected claims that foreign pressure influenced the decision to impose a 0.4% Merchant Discount Rate (MDR) on UPI transactions above…
UPI MDR above Rs 2,000 to attract 18% GST, merchants can claim input tax credit
The new merchant discount rate (MDR) on UPI payments above Rs 2,000 will attract 18% Goods and Services Tax (GST), but eligible merchants can claim…