SC refuses to stay Centre’s decision to impose fee on UPI transactions over Rs 2,000
The Supreme Court on Monday refused to stay the Centre’s decision to impose Merchant Discount Rate (MDR) on specified UPI person-to-merchant transactions above Rs 2,000. The court was hearing a plea challenging the new UPI fee framework.
The top court sought responses from the Centre and others on a petition challenging the decision.
A bench of Chief Justice of India Surya Kant and Justices Joymalya Bagchi and V Mohana agreed to hear the plea and directed the Centre, the Reserve Bank of India and others to file their counter affidavits within four weeks.
