Sitharaman clarifies 0.4% UPI MDR, says customers won’t pay it
- Finance Minister Nirmala Sitharaman on Monday dismissed claims that UPI transactions face fresh charges, calling the MDR not a tax.
- She said the 0.4% MDR, effective 15 October, applies only to merchant payments above Rs 2,000, not consumers.
- Sitharaman called it an inter-operator charge, insisting the burden will never be passed on to customers.
- She criticised opposition parties for spreading "misinformation" and misrepresenting the banking infrastructure fee.
Source: ndtvprofit.com
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