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Nirmala Sitharaman Clarifies MDR For Digital Transactions And UPI - Rediff.com Business
Finance Minister Nirmala Sitharaman clarified that the Merchant Discount Rate (MDR) on digital transactions applies to merchants, not customers, and aims to support banks and fintech in infrastructure investment. She countered Congress leader Jairam Ramesh's claims, stating that a committee will decide on MDR only after Parliament passes the Taxation and Other Laws (Amendment) Bill, 2026, a process currently stalled by parliamentary disruptions.
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FM says MDR on UPI applies to merchants, not customers; fintechs, banks will invest more on security - The Economic Times
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