SC Refuses To Stay UPI MDR, Seeks Centre’s Response On ₹2,000 Threshold

by · Inc42

SUMMARY

  • The Supreme Court has declined to stay the UPI MDR framework and sought an affidavit from the Centre explaining the basis for the ₹2,000 threshold
  • The decision leaves the rollout on track, bringing banks and payments platforms closer to earning revenue from UPI merchant payments after nearly six years of zero MDR
  • From October 15, eligible merchant payments above ₹2,000 will attract 0.4% MDR, capped at ₹300, with exemptions for small merchants and separate rates for specified sectors