Supreme Court seeks Centre's response on plea challenging MDR on UPI payments of over ₹2,000

Supreme Court seeks Centre's response on plea challenging MDR on UPI payments of over ₹2,000

The Supreme Court on Monday refused to stay Centre's decision to impose MDR on specified UPI person-to-merchant transactions of over ₹2,000 from October 15.

The top court, however, sought responses from Centre and others on plea challenging imposition of MDR on UPI payments above ₹2,000.

Centre told the Supreme Court that 96 per cent people using gateway are exempt.

Issue is less legal and more technical, observed Supreme Court, directing Centre, others to file their counter affidavit within four weeks.

This is a breaking story. More details to follow shortly.

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