NPCI Defers UPI MDR Until Post Diwali

The National Payments Corporation of India defers the merchant discount rate on select UPI person-to-merchant transactions until after Diwali, pushing back the October 15 rollout. The revised date will be notified separately. Merchants would face a 0.40% fee on transactions above ₹2,000, capped at ₹300, though businesses with annual turnover up to ₹40 Lakh might be exempted.