MDR

In the Union Budget for FY22, no funds were earmarked for recapitalising state-run banks. This was a decadal first, and will temper their eagerness to lend

Banks pay a switching fee running into hundreds of crores every year for UPI, but have to offer the service for free

The RBI has asked for feedback and suggestions before October 3

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

Will UPI on credit cards take off?

The RBI has allowed the linking of RuPay credit cards with UPI. But it will also carry a merchant fee. Will UPI on credit cards take off? Or the merchant fee will spoil the party? Let's find out

NPCI set to seek RBI nod for scheme; free swipes at smaller outlets

Payment companies like Visa and Mastercard have been seeking a level playing field with RuPay, claiming the government is favouring the latter

This is to support micro, small and medium enterprises (MSMEs) during the ongoing pandemic the company said.

Industry fears the move to drag the growth of digital payments

In a bid to encourage electronic payments, the central government in December 2017 decided to bear the MDR applicable on digital transactions worth Rs 2,000 through debit card