No MDR Will Be Charged On UPI Transactions: Finance Ministry
Delhi/Hyderabad, june 12 (Maxim News): The Finance Ministry has said no Merchant Discount Rate (MDR) will be levied on transactions through Unified Payments Interface platforms.
“Speculation and claims that the MDR will be charged on UPI transactions are completely false, baseless, and misleading,” the Ministry said in a post on X on Wednesday.
“Such baseless and sensation-creating speculations cause needless uncertainty, fear and suspicion among our citizens, The Government remains fully committed to promoting digital payments via UPI,” it said.
MDR is the cost paid by a merchant to a bank for accepting payment from their customers via digital means. The merchant discount rate is expressed in percentage of the transaction amount.
The Ministry’s clarification came following some reports that the government is planning to impose MDR on large-ticket UPI transactions.
Meanwhile, transactions through UPI touched a record high of Rs. 25.14 lakh crore in may, recording a growth of 5 per cent over the preceding month, according to data released by the National Payments Corporation of India (NPCI).
The UPI transactions value was Rs. 23.94 lakh crore in April. In terms of volume, 1,867.7 crore transactions were done in may against 1,789.3 crore in the previous month.
NPCI said the value of the transactions last month was 23 per cent higher as compared to Rs. 20.44 lakh crore in the year-ago period. (Maxim News)
Next Story:
Municipal polls: Congress and BRS eye chairperson posts in united district
![Municipal polls: Congress and BRS eye chairperson posts in united district]()
municipal polls | Municipal chairperson posts become key focus as Congress and BRS intensify preparations ahead of elections in the united district.
Aster DM Merger Gets NCLT Nod For Shareholder Meetings
![Aster DM Merger Gets NCLT Nod For Shareholder Meetings]()
Aster DM merger with Quality Care India advances after NCLT nod to convene shareholder meetings, moving closer to completion by Q1 FY2026-27.
Youth Employment Priority In Telangana: Shabbir Ali
![Youth Employment Priority In Telangana: Shabbir Ali]()
Telangana prioritises youth employment through AI and technical skill development, empowering ITI and polytechnic students for national and global jobs.
We Will Liberate Iran: European Parliament Statement
![We Will Liberate Iran: European Parliament Statement]()
Tehran/Delhi/Hyderabad, Jan 23 (Maxim News): The European Union (EU) has taken a tough stance on Iran. The EU has come out in support of the Iranian people, indirectly mentioning Iran’s Supreme Leader Ayatollah Ali Khamenei, saying that Iran will be given freedom and will face repression. The warnings from the EU to Iran have gained…
Phone Tapping Case: SIT Issues Clarification After KTR Examination
![Phone Tapping Case: SIT Issues Clarification After KTR Examination]()
Phone tapping case probe continues as SIT clarifies KTR examination and warns against misinformation, says Hyderabad Police.
Now you can get the latest stories from Indtoday on Telegram every day. Click the link to subscribe. Click to follow Indtoday’s Facebook page, Twitter, and Instagram. For all the latest Hyderabad News updates
