Supreme Court Refuses to Stay UPI MDR Charges Above ₹2,000, Seeks Clarity from Centre, RBI & NPCI.
The Supreme Court of India on Monday (September 28, 2026) refused to stay the proposed Merchant Discount Rate (MDR) on specified Unified Payments Interface (UPI) person-to-merchant (P2M) transactions above ₹2,000. The new framework is scheduled to take effect from October 15, 2026. A three-judge Bench comprising Chief Justice of India Surya Kant and Justices Joymalya […]