Nirmala Sitharaman On MDR: Government’s statement has come… Who will pay the MDR charge on ₹2000 UPI transactions? She told it herself

Nirmala Sitharaman On MDR: Government’s statement has come… Who will pay the MDR charge on ₹2000 UPI transactions? She told it herself: FM Sitharaman On MDR: MDR charges on UPI transactions above ₹2000 have become a topic of discussion, and Congress is targeting the government over it. Now, Finance Minister Sitharaman has cleared the whole picture on this.

The Finance Ministry introduced the Payment and Settlement Systems (Amendment) Bill, 2027 in Parliament last Tuesday. The opposition has been constantly targeting the Modi government over this bill. Under this bill, it has been proposed to implement a Merchant Discount Rate (MDR). This charge can be applied to UPI transactions of more than 2000 rupees. So, if a payment of more than 2000 rupees is made in one go, the MDR charge will have to be paid.

Ever since the bill was introduced in Parliament, there’s been confusion about who exactly this charge will apply to. The opposition has been constantly targeting the government over it. Now the government itself has clearly stated who this MDR Charge will apply to. The Finance Minister has cleared things up while countering Congress’s allegations.

Finance Minister hits back at Congress over MDR

Finance Minister Nirmala Sitharaman on Thursday strongly reacted to Congress leader Jairam Ramesh’s claim that the government is clearing the way to charge fees on all UPI transactions. Addressing the questions on MDR and the opposition’s allegations, she said that the Congress leader is spreading false rumors. In a post on social media, the Finance Minister said, ‘Before spreading wrong information, @Jairam_Ramesh ji, please think about this.’

In his post, the FM clarified by saying, ‘If any merchant discount rate, that is MDR, is applied, it will apply only and only to the merchants, not the customers. It doesn’t affect the end users or customers. This will help banks and fintech companies invest more in infrastructure, innovation, and security. All UPI users will benefit from this investment.’

‘No final decision on MDR yet’

Nirmala Sitharaman clarified another point in her post. She said that the most important thing is that the UPI and Service Operations Committee, chaired by NPCI, has not yet made any final decision on MDR. This will happen only after the Parliament passes the Taxation and Other Laws (Amendment) Bill, 2026, which proposes an amendment to Section 10A of the Payment and Settlement Systems Act, 2007.

MDR only on big traders!

It’s not required. Rather, the discussions have mainly focused on imposing MDR only on big traders, including major e-commerce companies and businesses exceeding the set annual turnover limit. Small-value transactions and person-to-person UPI payments are expected to remain outside the proposed framework. They also mentioned that discussions on re-implementing MDR have been going on for nearly two years.

Nirmala Sitharaman On MDR: Government’s statement has come… Who will pay the MDR charge on ₹2000 UPI transactions? She told it herself Nirmala Sitharaman On MDR: Government’s statement has come… Who will pay the MDR charge on ₹2000 UPI transactions? She told it herself Nirmala Sitharaman On MDR: Government’s statement has come… Who will pay the MDR charge on ₹2000 UPI transactions? She told it herself Nirmala Sitharaman On MDR: Government’s statement has come… Who will pay the MDR charge on ₹2000 UPI transactions? She told it herself

Nirmala Sitharaman On MDR: Government’s statement has come… Who will pay the MDR charge on ₹2000 UPI transactions? She told it herself

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