NPCI defers MDR on select UPI transactions until after Diwali

New Delhi, Oct 13 (UNI) The National Payments Corporation of India (NPCI) on Tuesday postponed the implementation of the merchant discount rate (MDR) on select Unified Payments Interface (UPI) transactions until after Diwali, providing temporary relief to merchants during the festive season. The levy was scheduled to take effect on October 15, while the revised implementation date will be announced separately. The decision comes just two days before the original deadline. The deferment will not alter the existing MDR structure, and the proposed charges will remain unchanged when the levy is implemented. "UPI and Services Steering Committee on Tuesday has…