Supreme Court refuses to stay 0.4% UPI merchant fee from October 15
A bench headed by Chief Justice of India Surya Kant refused to grant an interim stay on the Centre's new Merchant Discount Rate framework for UPI transactions, so the October 15 rollout stays on track.
The court issued notices to the Union government, RBI and NPCI, directing responses within four weeks on a PIL challenging the levy.
Under the framework, person-to-merchant payments above ₹2,000 will attract 0.4% MDR capped at ₹300, while person-to-person transfers and small merchant payments stay free.
Originally reported by TradingView (Moneycontrol). Article compiled by the Deccan Age desk.
