Politics · India
New 0.4% UPI Service Charge Effective Oct 15, Merchants to Pay
Finance Minister Nirmala Sitharaman announced that a 0.4% merchant discount rate (MDR) for UPI transactions will take effect on 15 October. She said the charge will be borne by merchants, not consumers, and clarified that the MDR is not a tax, will not accrue to the government, and that the decision was made professionally without any foreign pressure, countering opposition allegations.
How outlets across the spectrum covered it
L 2 C 1 R 1
- Left (2): The Hindu, The Telegraph (India)
- Centre (1): Malayala Manorama
- Right (1): Times Now