Centre denies US pressure, says MDR on UPI payments is India’s own decision
The finance ministry on Wednesday rejected allegations of foreign influence behind the decision to impose a 0.4 per cent Merchant Discount Rate (MDR) on person-to-merchant UPI transactions above Rs 2,000, saying the policy was framed independently to build a sustainable digital payments ecosystem.
The clarification came after some Opposition parties, including the Congress, accused the government of succumbing to US pressure over the introduction of the charge.
