Why NCP (SP) Calls UPI MDR A 'Betrayal'
5 Articles
5 Articles
Why NCP (SP) Calls UPI MDR A 'Betrayal'
The NCP (SP) has demanded a complete rollback of the 0.4 per cent Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000, effective October 15. The party termed the move a "direct assault" on small traders and shopkeepers, accusing the Modi government of "double standards" by burdening small merchants while large industrialists benefit from loan write-offs.
The implementation of the Merchant Discount Rate (MDR) on eligible merchant-based UPI transactions of more than 2,000 rupees, effective October 15, 2026, has raised concerns among traders in Banda. On Monday, the Uttar Pradesh Udyog Vyapar Mandal sent a memorandum to Prime Minister Narendra Modi regarding this. It demanded relief from the proposed fee for small, medium, and retail traders. The Vyapar Mandal stated that UPI has played a significa…
MDR Will Strengthen UPI Sustainability, Support Innovation, mitigate frauds and Enhance Wider Acceptance: ASSOCHAM - Press Network of India
New Delhi: Shri Nirmal K Minda, President, ASSOCHAM, appreciates the new UPI framework for large value merchant transactions. It will strengthen UPI sustainability, support innovation, mitigate frauds and enhance wider acceptance. The framework will support payment infrastructure and acceptance networks enabling UPI to expand further and serve consumers and businesses across the country. ASSOCHAM appreciates […]
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