Responding to widespread requests from merchant associations for seasonal relief, the National Payments Corporation of India (NPCI) announced on Tuesday, October 13, that it has deferred the rollout of the Merchant Discount Rate (MDR) on Unified Payments Interface (UPI) Person-to-Merchant transactions exceeding Rs 2,000. Rather than taking effect on the previously planned date of October 15, the framework will now be implemented following the Diwali festival, and a new operational date will be formally notified in due course.
MDR on UPI Transactions Above Rs 2,000 Deferred by NPCI Until After Diwali
