{"id":1038488,"date":"2026-09-25T08:08:19","date_gmt":"2026-09-25T02:38:19","guid":{"rendered":"https:\/\/telecomlive.in\/web\/?p=1038488"},"modified":"2026-09-25T08:20:58","modified_gmt":"2026-09-25T02:50:58","slug":"ministry-of-finnace-to-engage-with-banks-and-traders-to-allay-merchant-discount-rate-concerns","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2026\/09\/25\/ministry-of-finnace-to-engage-with-banks-and-traders-to-allay-merchant-discount-rate-concerns\/","title":{"rendered":"Ministry of Finnace to engage with banks and traders to allay Merchant Discount Rate concerns"},"content":{"rendered":"<p>New Delhi: The finance ministry will reach out to the Indian Banks Association (IBA) to ensure Merchant Discount Rate (MDR) charges are not passed on to consumers and officials will also meet traders&#8217; bodies to allay their concerns over the levy, officials said. <\/p>\n<p>&#8220;We would talk to IBA on execution&#8230;.Their members operate the POS machines,&#8221; an official said, adding the move to bring MDR on Unified Payment Interface (UPI) is in line with a recommendation by a parliamentary panel comprising opposition members. The official said apprehensions of consumers shifting back to cash due to merchant fees on UPI are misplaced.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Delhi: The finance ministry will reach out to the Indian Banks Association (IBA) to ensure Merchant Discount Rate (MDR) charges are not passed on to consumers and officials will also meet traders&#8217; bodies to allay their concerns over the levy, officials said. &#8220;We would talk to IBA on execution&#8230;.Their members operate the POS machines,&#8221; an official said, adding the move to bring MDR on Unified Payment Interface (UPI) is in line with a recommendation by a parliamentary panel comprising opposition members. The official said apprehensions of consumers shifting back to cash due to merchant fees on UPI are misplaced.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[59,4,10],"tags":[],"class_list":["post-1038488","post","type-post","status-publish","format-standard","hentry","category-it-2-the-economic-times","category-newspapers","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/1038488","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=1038488"}],"version-history":[{"count":1,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/1038488\/revisions"}],"predecessor-version":[{"id":1038517,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/1038488\/revisions\/1038517"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=1038488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=1038488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=1038488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}