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Tag: Merchant Discount Rate

Mobile phone retailers to protest against UPI MDR charges on October 2

Posted on September 27, 2026 By admin
Mobile phone retailers to protest against UPI MDR charges on October 2

The government has introduced a 0.4% fee on UPI transfers exceeding ₹2,000 to merchants from October 15, while exempting person-to-person transactions as well as small payments from any charges. Representative file image. | Photo Credit: Getty Images/iStockphoto Mobile phone retailers across India plan to observe October 2 as “No UPI Day” in protest against 0.4%…

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Nation

Mobile phone retailers to protest against UPI MDR charges on October 2

Posted on September 27, 2026 By admin
Mobile phone retailers to protest against UPI MDR charges on October 2

The government has introduced a 0.4% fee on UPI transfers exceeding ₹2,000 to merchants from October 15, while exempting person-to-person transactions as well as small payments from any charges. Representative file image. | Photo Credit: Getty Images/iStockphoto Mobile phone retailers across India plan to observe October 2 as “No UPI Day” in protest against 0.4%…

Read More “Mobile phone retailers to protest against UPI MDR charges on October 2” »

Business

MDR apprehension unlikely to spur higher cash usage: RBI Deputy Governor

Posted on September 18, 2026 By admin
MDR apprehension unlikely to spur higher cash usage: RBI Deputy Governor

Concerns that introducing a Merchant Discount Rate (MDR) would spur a surge in cash transactions are unlikely to materialise, RBI Deputy Governor Shirish Chandra Murmu said on Friday (September 18, 2026), adding that it was only an “initial apprehension”. From October 15, a 0.4% MDR will apply to person-to-merchant UPI payments above ₹2,000. The charge…

Read More “MDR apprehension unlikely to spur higher cash usage: RBI Deputy Governor” »

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