π³ UPI charges? FM clarifies who pays MDR
Finance Minister Nirmala Sitharaman refuted claims that regular users might have to pay more for UPI transactions. She clarified that any Merchant Discount Rate (MDR) would be imposed only on merchants, not on end customers. This discussion followed a post by Congress leader Jairam Ramesh on the social media platform X. The UPI and Services Steering Committee will only look into MDR after Parliament passes the Taxation and Other Laws (Amendment) Bill, 2026. This legislation provides the central government the power to decide on changing the current zero-MDR framework for UPI and RuPay transactions.