Sitharaman refutes claims of MDR affecting UPI users, says it applies only to merchants

Finance Minister Nirmala Sitharaman refuted Congress leader Jairam Ramesh's claims that the proposed payment law amendments would make UPI costlier for end users. She clarified that the Merchant Discount Rate (MDR) applies only to merchants, not end users. "More importantly, the UPI and Services Steering Committee, headed by NPCI, is yet to decide on the MDR," she added.