UPI MDR Clarity: No Fuel Exemption, Govt To Ensure Consumers Don't Bear Extra Cost

The government has clarified that there is no rethink on UPI Merchant Discount Rate (MDR) and no proposal to exempt fuel transactions from the charge for now. Sources have told Business Today Television that the government is working on a mechanism with the Indian Banks’ Association (IBA) to ensure that consumers do not bear any additional cost. The government is also expected to engage with trader associations to explain the existing MDR framework. Karishma Asoodani brings the latest details on the government’s stance, consumer concerns and the status of the fuel exemption demand.