- UPI payment system regulation and Merchant Discount Rate changes
- The Union Ministry of Finance proposed amendments to the Indian payment system, which the RBI is now regulating under the Payment and Settlement Systems Act.
- The government introduced a new structure for Merchant Discount Rate (MDR) via a ministry circular.
The Steering Committee decided to defer the Merchant Discount Rate (MDR) levy, amidst legal challenges and industry criticism.
1 report, 1 independent
Updated 00:00
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What happened
The Steering Committee decided to defer the Merchant Discount Rate (MDR) levy, amidst legal challenges and industry criticism.
Who's involved
What this event is mainly aboutKeep exploring
The entities involved
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Government of India
legislative, executive and judiciary authority of India
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Nirmala Sitharaman
Indian politician
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supreme court
highest court in a jurisdiction
Related events
- Sitharaman assured Parliament about UPI charges, while Bhakta Charan Das criticized the Centre regarding the introduction of MDR.
- The Karnataka State CM opposed the central MDR framework, while a state minister supported Rahul Gandhi's demands.
- The RBI Governor commented on a government bill introduced by Nirmala Sitharaman, which affects the RBI's domain, reported by Reuters.
- A court ruling citing a Supreme Court decision concerned an election in Kayunga district, confirming an NRM candidate as council chairperson.
- The Supreme Court refused a plea for a CBI probe and directed the petitioner to approach the poll panel in a legal case.