Delhi HC Orders RBI to Mediate PayU Fee Dispute

The Delhi High Court has directed the Reserve Bank of India to mediate a dispute between fintech platform PayU and several banks, including YES Bank and ICICI Bank, along with Visa. The conflict concerns interchange reimbursement fee claims stemming from the alleged misclassification of merchant category codes. The court has imposed an interim stay, preventing further deductions from PayU's settlements and halting Visa from issuing final determinations on the pending claims.