IIT-Bombay study bats to cut MDR to 0.08 pc from 0.4 pc, exclude banks from taking bulk share

A report by IIT-Bombay professors recommends reducing the Merchant Discount Rate for UPI transactions to improve the ecosystem. The current rate of 0.40 percent should decrease to 0.08 percent for third-party application providers. Additionally, the study suggests that banks should not depend on…

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