UPI: MDR or tiered incentive structure, govt weighing 2 options, FimMin tells Parl panel |
UPI: MDR or tiered incentive structure, govt weighing 2 options, FimMin tells Parl panel
The government is weighing two options to lessen dependence on the payment system on public subsidy. The Union finance ministry has told a Parliamentary panel.
Kolkata: The government is weighing two options to make UPI (Unified Payments Interface) financially independent and eliminate the subsidy crutch. While one is to restore MDR of merchant discount rate for high-value transactions, the other is to draw up a tiered incentive structure. These options has been conveyed by the Union finance ministry to the Parliamentary Standing Committee on Finance. reports stated. But the general impression is that the common people won’t have to bear any additional financial burden due to these steps.
Option to apply MDR on UPI
According to the........