Deccan Herald ·
Economy, business and finance
'Decisions made independently': Govt says no foreign influence behind MDR on UPI transactions above Rs 2,000
Finance Ministry dismisses claims of foreign pressure behind UPI MDR rule on transactions above Rs 2,000. It says the 0.4% fee will fund infrastructure and cybersecurity, with exemptions for small merchants and rural payments.
The clarification came after Opposition parties, including the Congress, alleged that the government had acted under US pressure while introducing the MDR.