• Big Update for UPI Payments!


• Supreme Court judgment


• Who will bear the burden of the 0.4% charge, the consumer or the merchant?

UPI Payment Supreme Court Order : The decision to apply Merchant Discount Rate i.e. MDR on UPI payments has heated up the whole country. The Supreme Court has also challenged the MDR implemented by the central government. According to reports, on Monday the court has issued a notice to RBI and NPCI in this matter. But in all this, there is no immediate suspension of the new MDR structure. This means that the new rule, which will come into effect from October 15, will be implemented from the same date as decided. But who exactly will bear the burden of this? US Foreign Direct Investment : 34 Trillion Dollar Debt, Yet Flood of Investment in America! Why do foreign investors bet?

As per the new rules, 'Select Person-to-Merchant UPI payments will be charged 0.4% MDR for transactions above ₹2,000. For payments of ₹75,000 or more, this fee will be a maximum of ₹300. Importantly, these charges will not be recovered separately from the customer. Traders are going to be responsible for MDR'.

Free UPI payments up to ₹2,000

Under the new scheme, merchant payments up to ₹2,000 will be exempted from MDR. Person-to-person UPI transfers, regardless of amount, will also be free. According to the government, approximately 96% of business transactions will not be affected by this change. A separate exemption provision for small businesses has also been announced.

Different rates have been fixed for certain essential and low profit sectors. A uniform MDR of ₹5 will be levied on payments above ₹2,000 relating to railway, telecom, insurance, fuel and agricultural inputs. Whereas payments to mutual funds, securities, stock brokers and dealers will be levied MDR of 0.02%, subject to a ceiling of ₹300.

What is the challenge before the Supreme Court?

Advocate Anjan Dutta has filed a Public Interest Litigation against this new framework. The petition challenges the central government's September 14 notification and the September 15 MDR framework. Also, the petition has also questioned the constitutional validity of the amendment made in Section 10A of the Payment and Settlement Systems Act, 2007.

Rule Changes : Scissors for common people's pockets again? The rules will change from October 1! Big decision regarding Bank, LPG, Traffic Challan