New Delhi : The Supreme Court has declined to stay the Centre’s decision to impose a Merchant Discount Rate (MDR) on specified person-to-merchant UPI transactions exceeding ₹2,000. The new charges are scheduled to come into effect from the 15th of next month.
The apex court was hearing a petition challenging the proposed MDR on UPI payments above ₹2,000. During the hearing, the Court observed that the issue appeared to be more technical than legal in nature. The Supreme Court directed the Centre and other respondents to file their counter-affidavits within four weeks.
