NSE MD says no govt talks on new UPI MDR
National Stock Exchange CEO Ashish Chauhan stated that there have been no government discussions regarding the new Merchant Discount Rate (MDR) for UPI payments. He emphasized that this is a matter between brokers and their clients, and they will resolve any issues that arise. Chauhan made these remarks during an interview after NSE's listing on the BSE.
The new MDR framework, introduced by the National Payments Corporation of India (NPCI), will impact capital-market transactions, including those involving stockbrokers, securities, and mutual funds. The MDR rate is set at 0.02 per cent, with a cap of Rs 300 per transaction, starting from October 15. The UPI framework also includes a 0.4 per cent MDR on specified person-to-merchant transactions above Rs 2,000, while transactions up to Rs 2,000 and small merchant transactions remain exempt.
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