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UPI MDR Will Not Push Users Back To Cash, Says RBI Deputy Governor SC Murmu

UPI MDR Will Not Push Users Back To Cash, Says RBI Deputy Governor SC Murmu
Photo: Free Press Journal · view original

The introduction of Merchant Discount Rate (MDR) on certain Unified Payments Interface (UPI) transactions is unlikely to drive consumers back towards cash, Reserve Bank of India Deputy Governor S C Murmu said. He added that the new framework would help the digital payments ecosystem recover opera...

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