No charges on debit card payments of up to â¹2,000 from now
Merchants won't have to pay any Merchant Discount Rate (MDR) to banks on all debit cards, BHIM UPI, and Aadhaar-based transactions of up to â¹2,000 from January 1. MDR is the rate charged to a merchant by a bank for providing debit and credit card services. The charges will be reimbursed by the government to banks for next two years.