How much could banks earn from Merchant Discount Rate on UPI?

The State Bank of India could become the biggest gainer from the Merchant Discount Rate on UPI payments and may earn up to ₹3,000 crore in a year, reports said, citing banker estimates. Bank of Baroda and HDFC Bank could earn ₹800 crore each, while Union Bank may earn ₹700 crore, reports added. Regulators are yet to decide the rate.