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…
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