Supreme Court hears challenge to Centre's MDR notification on UPI transactions
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- 2
- Developments
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- Repetition
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New informationRepeats or wire copies
What happened
The Supreme Court has received a petition challenging the Centre's Gazette notifications regarding charges on commercial UPI transactions exceeding Rs 2,000. The Court issued notices to the Centre, the Reserve Bank of India, and the National Payments Corporation of India, directing them to file counter affidavits within four weeks. The bench declined the petitioners' request to stay the Centre's decision, noting the matter was 'less legal and more technical.'
From indiatimes.com, livemint.com
Why it matters
The challenge concerns the introduction of a Merchant Discount Rate (MDR) on specified person-to-merchant UPI transactions above the threshold. The Centre stated that 96 per cent of users using the UPI gateway were exempt from the MDR.
The Supreme Court was hearing an appeal against a Delhi High Court judgment concerning deposit uniformity.
From indiatimes.com, livemint.com
Who's involved
- CentreCentre government agency whose notifications are being challenged regarding MDR on UPI transactions.
- Reserve Bank of IndiaCentral bank of India responding to the challenge regarding the high-value UPI charge notifications.
- supreme courtHighest court hearing the public interest litigation concerning the levy of charges.
How it developed
Newest first. Tap a step to see who reported it.Court challenged Centre's notifications; Centre and RBI are respondents in the plea.1 source
Centre and RBI are responding to a PIL regarding the review of the Centre's decision on MDR imposition.1 source
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The entities involved
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Centre
political party in Croatia
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Reserve Bank of India
central bank of India
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supreme court
highest court in a jurisdiction
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