GENERAL18 Sept 2026
MDR on UPI unlikely to trigger shift back to cash usage: RBI's Murmu
RBI Deputy Governor S C Murmu says MDR (Merchant Discount Rate) on UPI is unlikely to push people back to cash. He said MDR helps the payments ecosystem recover its costs. Cash still has a big role as a store of value, he noted. If you run a business taking UPI payments, keep an eye on RBI updates.
Key Statutory Highlights
- RBI Deputy Governor S C Murmu said MDR on UPI is unlikely to trigger a shift back to cash usage.
- He said MDR will help the payments ecosystem recover its costs.
- Cash continues to retain a significant role as a store of value, he said.
Actionable Advice for Taxpayers / Founders:If your business accepts UPI payments, follow RBI's official updates on MDR and check with your payment provider before making any changes to your pricing or payment setup.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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