business ⛽ UPI MDR hikes might hit petrol pumps and brokers
New UPI MDR framework has caused protests from traders and industry groups across India. Petrol pumps in Mumbai might stop accepting UPI payments above ₹2,000 starting from October 15. The new rules impose a 0.4% MDR charge for transactions above ₹5, affecting many sectors. Traders are concerned this will push them towards cash, while Nithin Kamath warned about stockbroking economics. A PIL has also been filed in the Supreme Court seeking suspension of this new framework. ⛽