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UPI MDR is Not a Tax: FM Nirmala Sitharaman Clarifies

By ThePip DeskUPI MDR is Not a Tax: FM Nirmala Sitharaman Clarifies

Finance Minister Nirmala Sitharaman clarifies that UPI Merchant Discount Rate (MDR) is not a tax or surcharge, ensuring no extra burden on consumers.

Union Finance Minister Nirmala Sitharaman has addressed concerns regarding the Merchant Discount Rate on Unified Payments Interface transactions. She explicitly stated that the MDR is neither a tax, a cess, nor a surcharge.

Clarifying the Digital Payment Ecosystem

The clarification aims to dispel misconceptions surrounding the digital payment ecosystem and maintain public confidence in the widely used UPI platform. Sitharaman reassured the public that its implementation will not result in any additional financial burden for consumers.

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