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Supreme Court Seeks Govt, RBI Response on UPI Transaction Charges Plea

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The Supreme Court has declined to stay the proposed merchant discount rate (MDR) charges on UPI transactions exceeding Rs 2,000. The court has issued notices seeking responses from the Central Government, the Reserve Bank of India, and the National Payments Corporation of India. The notices were prompted by a petition challenging the new MDR framework applicable to certain UPI transactions. The case raises concerns about the potential financial impact on users and merchants who rely on UPI for everyday digital payments.

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Supreme Court Seeks Govt, RBI Response on UPI Transaction Charges Plea · ShortSingh