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VERIFIEDET Finance·neutral

UPI MDR could cost 47.2 bps with GST for merchants

AI Summary
  • ·A new framework will introduce a 0.4% MDR on person-to-merchant UPI transactions above Rs 2,000.
  • ·The MDR is capped at ?300 on transactions of Rs 75,000 and above, with no charge to consumers.
  • ·The new framework takes effect from October 15, with GST paid by the service provider.
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