Centre rejects external pressure claims over UPI MDR rollout
India's Finance Ministry stated that the MDR fee on certain UPI transactions was introduced not under external pressure but to support small payment apps. Credit cards on UPI remain RuPay-only, and RuPay debit cards have no MDR. The rate is 0.4% for transactions above ₹2000, and ₹5 for fuel and utilities.
- Standard MDR rate is 0.4% for UPI payments above ₹2000
- For fuel, insurance, utilities, and telecom: fixed ₹5
- For brokerage and mutual fund transactions: 0.02%, max ₹300
- Credit cards on UPI allowed only via RuPay
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