Finance Minister Nirmala Sitharaman said stakeholders will decide when the Merchant Discount Rate on UPI transactions takes effect, after the 57th GST Council meeting. The UPI Steering Committee had approved a 0.4 percent MDR on merchant transactions above Rs 2,000, set to begin October 15, but implementation may be deferred to January 2027 amid requests for more time.
Stakeholders to Decide UPI MDR Rollout, Says Sitharaman
Source: Moneycontrol