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UPI MDR | India may examine demand to exempt select transactions from charges: Report
The brief
- The Department of Financial Services may examine exempting petrol pumps from UPI MDR charges; no decision has been made
- A petrol-pump exemption could affect payment costs for Indian fuel retailers
- MCX Natural Gas Futures: Can go either way; stay out
- Accumulate Petronet LNG; target of Rs 302: Prabhudas Lilladher
- Petrol, diesel prices today, September 28: How much does fuel cost in Delhi, Mumbai, Bengaluru?
- India to continue diesel exports despite possible US ban amid tightening global fuel market
- Iran-linked diesel price spike makes electric trucks cheaper than diesel in key EU markets, environmental group says
UPI MDR rollout and consumer protection
SBI plans to charge MDR on UPI merchant payments above ₹2,000 from October 15, while officials say MDR collections will not cover UPI’s full operating costs and the government and banks will decide a continuing subsidy. The Finance Minister says the fee will be borne within the merchant-payment ecosystem, not passed to consumers; the government is also discussing safeguards with banks.
Thursday, 24 September
- UPI MDR | India may examine demand to exempt select transactions from charges: Report