33.5 C
Delhi
Saturday, August 15, 2020

Payment modes notified from 1st January will not have MDR

- Advertisement -

We dont want any telecom firm to shut ops: FMNew Delhi, Dec 29 (ANI): The customers will not be charged merchant discount rates (MDRs) for transactions made through “payment modes” that will be notified from January 1, 2020.

“Those payment modes that will be notified from 1st January 2020 will not have charges under the MDR being levied on them,” Finance Minister Nirmala Sitharaman said on Saturday.

In her Union Budget announcement in July, Sitharaman had said that customers or merchants would not be charged MDRs as the Reserve Bank of India and banks would absorb the costs.

 

(Source: ANI)

Follow Us For Latest Updates -

India Updates
India Updates is an independent news & Information website. Follow us for regular updates on News and Information.

Related News

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Topics

Covid 19 India Updates

PM assures OFC to each village in 3 years for more Digital India Push

New Delhi, Aug 15 (IANS) Giving a new fillip to the Digital India vision Prime Minister Narendra Modi on Saturday announced that every village...

Trending Right Now

I-T dept plans active reporting of high value transactions for enhancing tax base

New Delhi (IANS) The government may have eased tax compliance measures through its 'transparent taxation' initiative but it proposes an extensive drive to enhance...