Exclusive news and data that keep market professionals aheadWednesday, September 16, 2026

Ramesh questions UPI MDR move, links it to US pressure

New Delhi, Sep 16 (UNI) Congress general secretary in-charge communications Jairam Ramesh on Wednesday questioned the Narendra Modi government's decision to introduce a Merchant Discount Rate (MDR) on select UPI transactions, alleging that the move came amid mounting pressure from the United States and could potentially help American card companies compete with India's widely used digital payments system. Ramesh's attack came a day after the government announced that a 0.4 per cent MDR will be levied from October 15 on specified person-to-merchant UPI transactions above Rs 2,000, with the charge capped at Rs 300 for transactions of Rs 75,000 and…

News Details

Words:
103
Type:
TEXT
Slug:
POLITICS RAMESH UPI MDR
Source
UNI India
Category
,
Published At
16/09/26 06:02
Last updated
16/09/26 06:02
Location
New Delhi, India