Sitharaman to meet traders’ body over UPI MDR concerns: Govt sources
Amid the ongoing debate over the proposed merchant discount rate (MDR) on UPI payments, Finance Ministry sources said on Thursday that around 96 per cent of all UPI merchant payments would remain unaffected.
Small vendors receiving up to Rs 1 lakh a month through UPI will not incur MDR charges, according to the sources.
The sources said Finance Minister Nirmala Sitharaman is set to meet representatives of the Confederation of All India Traders (CAIT) to discuss and address their concerns over MDR on UPI transactions, which is set to be introduced from October 15.
