Groww: Rs 300 UPI MDR cap 'not affordable' for stockbrokers

Groww co-founder and CFO Ishan Bansal said the proposed Rs 300 cap on UPI MDR for capital market transactions is unaffordable for stockbrokers, since customers often add funds without trading. Groww has written to SEBI proposing separate MDR pricing for capital markets, while NPCI has deferred the MDR rollout until after Diwali.

• MDR for capital market UPI payments is set at 0.02%, capped at Rs 300
• Groww has asked SEBI for separate MDR pricing for capital markets
• Zerodha, Angel One and Groww proposed a Rs 5 cap instead of Rs 300
• NPCI deferred the UPI MDR rollout until after Diwali