UPI MDR Will Not Push Users Back To Cash, Says RBI Deputy Governor SC Murmu
The introduction of Merchant Discount Rate (MDR) on certain Unified Payments Interface (UPI) transactions is unlikely to drive consumers back towards cash, Reserve Bank of India Deputy Governor S C Murmu said. He added that the new framework would help the digital payments ecosystem recover operational costs while supporting future growth. Speaking at an event organised by the Bengal Chamber of…
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