Supreme Court Seeks Centre, RBI Responses on UPI

YourStory · startup

The Supreme Court has requested responses from the Central government and the Reserve Bank of India regarding the implementation of a merchant discount rate (MDR) on UPI transactions. A bench of the apex court declined to impose an interim stay on the decision to introduce this charge. This development comes as discussions continue around the potential financial implications for users and merchants involved in UPI payments. The court's decision to seek further input indicates a careful consideration of the matter before any final ruling.