UPI MDR rollout deferred until after Diwali

NEW DELHI: The introduction of charges on select Unified Payments Interface (UPI) transactions has been deferred until after Diwali, giving merchants a reprieve during the festive shopping season as the proposed fee structure faced resistance from trade bodies.

A fresh implementation date will be announced separately, the National Payments Corporation of India (NPCI) said in a statement on Tuesday, citing a decision by its UPI and Services Steering Committee to defer the charges in view of the festive season.