UPI MDR: SC seeks responses from Centre, RBI
The Supreme Court on Monday sought responses from the Centre and others on a petition challenging the decision to impose a Merchant Discount Rate (MDR) on specified UPI person-to-merchant transactions above Rs 2,000.
Via YourStory
A bench of Chief Justice of India Surya Kant and Justices Joymalya Bagchi and V Mohana agreed to hear the plea and directed the Centre, the Reserve Bank of India and others to file their counter affidavits within four weeks.
The bench refused to grant any interim stay on the Centre's decision to impose MDR.
Additional Solicitor General N Venkataraman, appearing for the Centre, told the bench that 96 per cent of people using the gateway were exempt.
"It is…
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