Banks to get 60% of MDR revenue, SBI to get most share: Bernstein

The 0.4% merchant discount rate (MDR) on transactions over ₹2,000 could generate $2.8 billion by 2028, with banks getting 60% of the revenue, research firm Bernstein said. It added that SBI could get 25%, the highest share. Bernstein further said MDR could boost the banking-system's profits by 3%, adding that the benefits are likely to be "highly uneven".