Plea in SC against imposition of MDR on UPI payments of above Rs 2,000
The government has introduced a 0.4% fee on UPI payments of more than Rs 2,000 made to merchants from October 15. Under this, a merchant discount rate (MDR) of 0.4% is to be levied on person-to-merchant transactions of above Rs 2,000. However, no MDR is to be levied on UPI transactions of up to Rs 2,000.
A public interest litigation (PIL) has been filed in the Supreme Court challenging the government's decision to impose a 0.4% merchant discount rate (MDR) on UPI person-to-merchant transactions exceeding Rs 2,000. The Center introduced this MDR framework on September 15, which is to take effect from October 15. According to the petition, the government's notification on September 14 triggered the implementation of the MDR on UPI payments above Rs 2,000 to merchants. Transactions up to Rs 2,000 are exempt from the MDR.
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