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MDR a small fee, will not have major impact on UPI volumes: RBI Governor Sanjay Malhotra

MDR a small fee, will not have major impact on UPI volumes: RBI Governor Sanjay Malhotra

National · 2 updates

MDR a small fee, will not have major impact on UPI volumes: RBI Governor Sanjay Malhotra

It can be noted that last month, the government allowed charging of the MDR under which transactions above ₹2,000 will attract a fee of 0.4 per cent.

MDR a small fee, will not have major impact on UPI volumes: RBI Governor Malhotra

“As of now, we do not see any drop in volumes. And I don’t personally think that a small fee will have a major impact on the volumes,” RBI Governor Sanjay Malhotra said