Transaction volumes to decrease after Oct 15: Shenoy on MDR charge

Capitalmind CEO Deepak Shenoy reacted to announcement of a merchant discount rate (MDR) regime for UPI transactions from October 15 and said, "My personal opinion is: UPI should be free." "I expect transaction volumes to decrease somewhat after Oct 15," Shenoy said. "This is unfair for the investment industry," he said, referring to 0.02% MDR on mutual funds and stocks.