Festive breather as NPCI defers UPI levy rollout till Diwali

In a relief to users ahead of the festive season, the National Payments Corporation of India (NPCI) on Tuesday deferred the implementation of the Merchant Discount Rate (MDR) on select UPI transactions, just two days before it was due to come into effect on October 15. The NPCI said the levy would now be implemented after Diwali on a date to be notified separately.