Supreme Court refuses to stay MDR fee on UPI: What it means for customers, changes after Oct 15
The Supreme Court declined to stay the Merchant Discount Rate (MDR) on UPI transactions exceeding ₹2,000, which will impose a 0.4% fee starting October 15. This decision follows the government's announcement on September 15, aimed at covering operational costs, and the court has requested responses from the Centre and the Reserve Bank of India within four weeks.