SC refuses to stay UPI levy, seeks Centre, RBI’s response on PIL within four weeks

The Supreme Court on Monday issued notices to the Centre, the Reserve Bank of India (RBI) and others on a PIL challenging the decision to levy a Merchant Discount Rate (MDR) on specified UPI person-to-merchant transactions exceeding Rs 2,000 from October 15.

A Bench headed by Chief Justice of India Surya Kant, however, declined to stay the Centre’s decision to impose MDR on such UPI transactions.

Observing that the issue appeared to be more technical than legal in nature, the top court asked the Centre, RBI and others to respond within four weeks to the petition filed by advocate Anjan Datta.