Canara Bank eyes ₹450 cr from UPI MDR framework

Canara Bank estimates ₹450 crore revenue from the proposed MDR framework on UPI payments. However, 96% of UPI transactions are under ₹2,000, limiting actual income. Last year's payment costs stood at ₹900 crore. MD & CEO Brajesh Kumar Singh remains hopeful that digital payment growth will create more innovation and earning opportunities for banks.

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