National Payments body pushes UPI merchant discount rate implementation till after Diwali
The National Payments Corporation of India (NPCI) postponed the implementation of the 0.4% Merchant Discount Rate (MDR) for UPI transactions above ₹2,000 until after Diwali. This decision follows criticism from trade bodies and opposition parties, who argued the fee could drive consumers back to cash payments. A new implementation date will be announced post-Diwali.