MDR on UPI transactions over Rs 2,000 deferred; to come into effect post Diwali

MUMBAI: Its official. There will be no MDR on UPI until the festival season is over. The National Payment’s Corporation of India’s The UPI and Services Steering Committee has deferred the implementation of merchant discount rates (MDR) on select person-to-merchant UPI transactions until immediately after Diwali, citing the festive season. The implementation date will be notified separately.The Times of India had reported last week that finance ministry and the National Payments Corporation of India (NPCI) have decided to defer the introduction of merchant discount rate (MDR) on select UPI transactions, seeking to avoid adding to business costs and hitting consumption at a time of economic headwinds, people aware of the matter said. The revised rollout was expected to be pushed to January 2027 from October 15.