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7) What is merchant discount rate (MDR)? Recently petroleum retailers to threatened to stop accepting credit and debit card payments as a protest against the decision by certain banks to levy the merchant discount rate (MDR) of up to one per cent on card payments. Examine why petroleum retailers are worried. Also comment what this issue means to India’s push towards cashless economy.

Topic:  Resource mobilization

7) What is merchant discount rate (MDR)? Recently petroleum retailers to threatened to stop accepting credit and debit card payments as a protest against the decision by certain banks to levy the merchant discount rate (MDR) of up to one per cent on card payments. Examine why petroleum retailers are worried. Also comment what this issue means to India’s push towards cashless economy. (200 Words)

The Hindu

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