Finance Minister Nirmala Sitharaman clarified that Merchant Discount Rate (MDR) applies to merchants, supporting banks and fintechs in infrastructure investments.
Sitharaman's clarification comes amid concerns raised by Congress
Aug 07, 2026
10:12 am
What's the storyFinance Minister Nirmala Sitharaman has clarified that the Merchant Discount Rate (MDR) on digital transactions applies to merchants, not customers.
The clarification comes amid concerns raised by Congress leader Jairam Ramesh over potential costs for ordinary people using Unified Payments Interface (UPI).
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Finance minister Nirmala Sitharaman on Thursday pushed back Congress leader Jairam Ramesh's claims that ordinary people could end…
Finance Minister Nirmala Sitharaman on Thursday said that merchant discount rate (MDR) is applied only on merchants and not on…
Sitharaman accused the opposition leader of "spreading a canard" and clarified that MDR "applies only on the merchants and not on…
