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The Economic Times

Economy / The Economic Times

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FMCG distributors seek zero-MDR for UPI transactions; write to PM

The association urged the government to address the implications of calculating the merchant discount rate on gross payments and resulting cascading tax incidence. It said in its note that FMCG retail and distribution businesses operate on very thin margins, hence a 0.4% MDR can represent significant erosion of actual earnings.

18 Sep 2026 7:04 pm