India TV

Will MDR on UPI transactions affect volumes? Here's what RBI Governor Sanjay Malhotra said

Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday said that levying a small fee in the form of MDR (Merchant Discount Rate) on UPI transactions will not significantly affect UPI transaction volumes. As of now, we do not see any drop in volumes. And I don't personally think that a small fee will have a major impact on the volumes, he told reporters at the central bank headquarters.