Supreme Court Seeks RBI, NPCI Response On 0.4% UPI MDR Rule, Refuses To Stay Oct 15 Rollout
The Supreme Court on Monday issued notices to the Reserve Bank of India (RBI) and National Payments Corporation of India (NPCI) on a petition challenging the government’s decision to introduce a 0.4% Merchant Discount Rate (MDR) on certain UPI person-to-merchant transactions exceeding Rs 2,000. However, the court did not suspend the implementation of the new MDR framework, which is scheduled to…
We haven't written up this one. Free Press Journal has the full story — the link below goes straight to it.
