Tag: Merchant Discount Rate

Posted on

UPSC Current Affairs Quiz – 17 September 2026 | Daily Prelims Quiz

  The Current Affairs Quiz is a daily quiz based on the DAILY CURRENT AFFAIRS AND PIB SUMMARY from the previous day, as posted on our website. It covers all relevant news sources and is designed to test your knowledge of current events. Solving these questions will help you retain both concepts and facts relevant …

Continue reading “UPSC Current Affairs Quiz – 17 September 2026 | Daily Prelims Quiz”

Posted on

UPI Merchant Discount Rate (MDR) Framework, 2026

Source: PIBSubject: Economy Context: The Government announced a new Merchant Discount Rate (MDR) framework for UPI, effective from October 15, 2026, introducing charges on specified merchant payments above ₹2,000. UPI Merchant Discount Rate About UPI Merchant Discount Rate (MDR) Framework, 2026: What it is? Merchant Discount Rate (MDR) is a fee charged within the merchant …

Continue reading "UPI Merchant Discount Rate (MDR) Framework, 2026"

Posted on

UPI at 10: India’s Digital Payments Revolution and the Road Ahead

Source: IESubject: Economy Context: As the Unified Payments Interface (UPI) completed 10 years of operation, Parliament passed the Taxation and Other Laws (Amendment) Bill, 2026. The Bill amends Section 10A of the Payment and Settlement Systems (PSS) Act, 2007, removing the statutory prohibition against levying a Merchant Discount Rate (MDR) on UPI and RuPay debit …

Continue reading "UPI at 10: India’s Digital Payments Revolution and the Road Ahead"

Posted on

UPSC Editorial Analysis: UPI Monetization

General Studies-3; Topic: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.  Introduction The debate surrounding the sustainability of India’s digital payments system has resurfaced following proposed amendments to the Payment and Settlement Systems (PSS) Act, 2007. While the government has reiterated that Person-to-Person (P2P) transfers and micro-payments will remain free, …

Continue reading “UPSC Editorial Analysis: UPI Monetization”

Posted on

The Payment and Settlement Systems Act, 2007

Source: DD NewsSubject: Government Bill and Act Context: The Central Government clarified that everyday Person-to-Person (P2P) and general merchant UPI transactions will remain completely free for citizens. The statement follows public concerns over proposed amendments to Section 10A of the Payment and Settlement Systems Act (PSS Act), 2007, via the Taxation and Other Laws (Amendment) …

Continue reading "The Payment and Settlement Systems Act, 2007"