New UPI framework: 0.4% MDR on specified merchant payments above Rs 2,000

PANAJI: The National Payments Corporation of India (NPCI) has introduced a new Merchant Discount Rate (MDR) framework under which a 0.4% charge will apply to specified person-to-merchant (P2M) UPI transactions above Rs 2,000 from October 15.The Ministry of Finance clarified that the framework will not affect person-to-person (P2P) transactions. UPI transfers between individ