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IIT-Bombay study bats to cut MDR to 0.08 pc from 0.4 pc, exclude banks from taking bulk shareA report by IIT-Bombay professors recommends reducing the Merchant Discount Rate for UPI transactions to improve the ecosystem. The current...- UPI MDR framework needs rationalisation to protect public trust: ReportUPI, a public digital infrastructure, has generated significant convenience for users and productivity gains for the economy, with its long...
- UPI MDR framework needs rationalisation to protect public trust: IIT Bombay reportThe report cautioned that public trust in UPI could be undermined if the proposed MDR framework is implemented in its present form, stressi...
- UPI MDR spurs soundbox expansion beyond metrosThe industry has scope to increase soundbox deployments from about two crore to five crore over time, a top official at the National Paymen...
- Your UPI payment just got a price tag: what it means for GST-registered taxpayersNPCI, which manages UPI, has brought in a merchant discount rate of 0.4% on certain person-to-merchant UPI payments above Rs 2,000.
- UPI MDR decision completely professional, no external pressure: FM SitharamanTalking to PTI, Sitharaman said the decision was completely professional, and it was taken jointly by the National Payments Corporation of ...
- Finance Ministry rejects US pressure claims over new UPI MDR, says RuPay has no special edgeIndia's Finance Ministry rejects claims of US influence on UPI payment charges. The new framework prioritizes RuPay credit cards for UPI tr...
- FinMin allays fears of increase in cash transactions post UPI MDR levy: SourcesThe Finance Ministry anticipates no rise in cash transactions following the UPI MDR implementation. Only a small percentage of total UPI vo...
- No US pressure in UPI MDR decision; NPCI circular offers no advantage to foreign credit cards: FinMinThe Department of Financial Services (DFS) issued the clarification in response to observations in the US Trade Representative's (USTR) 202...
- UPI MDR rates likely within a week, October rollout in sightThis comes after a Monday notificationfrom the Department of Financial Services that narrowed the zero-charge mandate for UPI. The earlier ...
- Man found Rs 1.3 lakh missing from SBI bank account: Rs 80,000 ATM withdrawal, Rs 50,000 transfer made without his authorisation; consumer commission upholds Rs 1.3 lakh refundA man's SBI bank account was drained of Rs 1.3 lakh through four unauthorised ATM withdrawals and two transfers he says he never made. SBI ...
- NPCI introduces real time PAN-Bank Account linking on income tax website; taxpayers may get faster income tax refundsNPCI has launched a new PAN and Bank Account Validation API for government departments, enabling real-time verification of taxpayer details...
- UPI transactions to become faster from MondayUPI transactions are set to become faster as NPCI mandates a reduced response time of 10 seconds for payments, effective Monday. This aims ...
- MF, SIP, loan, insurance NACH mandate cancellation to be easier: NPCI sets deadline for banks to provide facility or else…..The NPCI has found that just a few banks have implemented the online Cancel Amend/ Suspend & Revoke (CASR) facility for NACH mandates given...
- Paytm receives approval from NPCI to onboard new UPI usersPaytm parent firm One 97 Communications said on October 22 that the National Payments Corporation of India (NPCI) has given approval to the...
- NPCI sets 1.1% interchange fee on UPI payments via prepaid instruments, walletsThe National Payments Corporation of India has set the interchange fee at 1.1% for merchant transactions initiated using a Prepaid Payment ...
- NRIs will soon get to use international mobile no.s for UPI payments"We have been receiving requirements from ecosystem with regard to NRI accounts and other permissible accounts having international numbers...
- NPCI’s volume cap circular: Will limits on UPI transaction volumes impact India’s fintech sector?Being the sole umbrella organization for retail payments in India, NPCI is in a dominant position. Given the current regulatory framework, ...
- UPI transaction limit for stores doubled to Rs 2 lakhThe move is expected to boost digital payment players such as Paytm, Google Pay and PhonePe, as well as millions of retail stores across th...
- NPCI stops UPI pay within same account, effective August 1NPCI said that all such transactions will be blocked in the UPI central system and has also asked payment service providers and banks to bl...
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