FM Nirmala Sitharaman clarifies UPI MDR charges will not affect consumers

Finance Minister Nirmala Sitharaman clarified that the Merchant Discount Rate (MDR) on UPI payments above Rs 2,000 will not be passed on to consumers. She emphasized that the MDR, set at 0.4%, is a charge borne by merchants and is not a tax, cess, or surcharge. This announcement addresses misconceptions about the impact of MDR on consumer payments.

Originally published by gnews