MDR Charges

The day's opinion highlights flaws in closing auctions, the funding challenge in digital payments, humane KYC, cognitive warfare and everyday gender discrimination

Today's opinions examine the RBI's inflation dilemma, rising life insurance surrenders, India's employment crisis, possible UPI charges and the shift from food to nutrition security

"The Government remains fully committed to promoting digital payments via UPI," the finance ministry said

According to analysts, SBI Card and Paytm stand to gain the most if RBI agrees to levy 2% merchant discount rate (MDR) on RuPay-based credit cards linked to UPI

Business Standard brings you top events that are lined up for Wednesday

Department of Revenue (DoR) will soon notify RuPay and UPI as the prescribed mode of payment for digital transactions without any Merchant Discount Rate

The transactions need to made through debit cards, BHIM-UPI and Aadhaar Pay

Kanungo also said the new rate structure is beneficial to all concerned as it is simple and a single rate

Last week, RBI had drastically cut MDR charges on debit card payments from April 1