Download Unicorn Signals App

Powered By EquityPandit
 Signals, Powered By  EquityPandit
Latest News

Cabinet to waive MDR charges on debit card payments up to Rs.2,000

The Union Cabinet  will waive Merchant Discount Rate (MDR) for all debit cards, BHIM and UPI transactions up to Rs.2,000 for at least 2 years, for increasing the digital payments.

Merchant Discount Rate is the rate charged to a merchant by the bank for giving debit and credit card services when payment is made at a merchant point of sale (PoS).

The Cabinet on Friday stated, “Merchant Discount Rate (MDR) applicable on all debit card/BHIM UPI/ AePS transactions up to and including a value of Rs 2000 will be borne by government for 2 years with effect from 1 January, 2018 by reimbursing same to the banks.”

Further, the government will reimburse the charges to banks for a period of 2 years, effective from January 1, 2018.

Read EquityPandit’s Technical Analysis on Nifty Bank


Get Daily Prediction & Stocks Tips On Your Mobile