UPI MDR row: SC refuses interim stay on levy, asks Centre and RBI to file counter affidavits within 4 weeks

The Supreme Court on Monday refused to grant an interim stay on the Centre’s decision to impose Merchant Discount Rate (MDR) on specified UPI transactions above ₹2,000, PTI reported.

A bench comprising Chief Justice of India Surya Kant and Justices Joymalya Bagchi and V Mohana, however, agreed to hear the public interest litigation (PIL) challenging the levy.