PIL in SC challenges imposition of 0.4% MDR on UPI payments of above Rs 2,000
A day after the Centre announced imposition of a merchant discount rate (MDR) on specified UPI person-to-merchant (P2M) transactions of above Rs 2,000, a PIL in the Supreme Court on Wednesday challenged the decision, alleging the levy was introduced without adequate statutory safeguards, transparency or public consultation.
The Centre has introduced a 0.4 per cent merchant discount rate (MDR) on UPI payments of more than Rs 2,000 to be levied on P2M transactions of above Rs 2,000. However, no MDR will be levied on UPI transactions of up to Rs 2,000.
