Finance Minister Nirmala Sitharaman clarified on Thursday that the Merchant Discount Rate
Finance Minister Nirmala Sitharaman clarified on Thursday that the Merchant Discount Rate (MDR) applies to merchants, not customers, and will support banks and fintech investments in infrastructure and security. She responded to Congress leader Jairam Ramesh, who alleged MDR would burden ordinary people. The UPI and Services Steering Committee, led by NPCI, will decide on MDR after Parliament passes the Taxation and Other Laws (Amendment) Bill, 2026.
5 AUG 2026
— NDTV
RBI Governor Malhotra Says Premature to Confirm UPI Transaction Charges
7 AUG 2026
· THIS STORY — NDTV
Finance Minister Nirmala Sitharaman clarified that the Merchant Discount Rate (MDR) applies to merchants, not customers, and will support financial infrastructure and security.
— NDTV
The Payments Council of India reaffirmed that UPI services will remain free for consumers and small merchants despite the amendment to the Payment and Settlement Systems Act.
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