The government has rejected calls to roll back the 0.4% UPI MDR on merchant transactions above Rs 2,000, effective October 15, with a Rs 300 cap. A flat Rs 5 MDR applies to railways, telecom, insurance, and fuel. Rahul Gandhi demanded withdrawal of the "UPI tax"; a Supreme Court petition challenges the notification.
Business
Govt Rejects Calls To Withdraw 0.4% UPI MDR
