FM Sitharaman Clarifies UPI MDR: Customers Will Not Bear The Cost Directly
Finance Minister Nirmala Sitharaman clarified that UPI transactions below ₹2,000 will not attract Merchant Discount Rate (MDR), adding that customers will not bear the cost directly. MDR is a charge within the payments ecosystem, levied by service providers to support the cost of operating and improving the UPI system, Sitharaman said.
