UPI MDR small fee will not have major impact on volumes: RBI Governor Sanjay Malhotra

Reserve Bank of India Governor Sanjay Malhotra on Wednesday said a “small fee” in the form of merchant discount rate (MDR) will not have a “major impact” on UPI transaction volumes, while assuring that the central bank will ensure stability in the rupee and support it in finding its “correct value”.

“As of now, we do not see any drop in volumes. And I don’t personally think that a small fee will have a major impact on the volumes,” he told reporters at the central bank headquarters here.