UPI MDR row: SC refuses interim stay on the levy; asks Centre, RBI to file counter affidavits within 4 weeks
Mint 58 min ago·28 Sept 2026, 8:02 am
The Supreme Court has rejected the request for an interim stay on the government's plan to impose Merchant Discount Rates (MDR) on UPI transactions exceeding ₹2,000. The court has instead asked the central government and the Reserve Bank of India to file their counter-affidavits within four weeks. This decision means the current legal battle over the fee structure will continue, with the court likely to hear the matter again after the specified period.
For investors, this development is significant as it keeps the regulatory uncertainty surrounding digital payments alive. The levy, which was previously waived, could impact the profitability of payment service providers and merchants. Market participants will now closely watch the court proceedings and the government's response to understand how this ruling might influence the broader financial technology sector and the valuation of payment-related stocks.
Excerpt from Mint
The Supreme Court declined to issue an interim stay on the government's move to impose MDR on UPI transactions over ₹ 2,000. Details here. The Supreme Court on Monday refused to grant an interim stay on the central government's decision to impose Merchant Discount Rate (MDR) on specified UPI transactions above ₹…Read the original at Mint
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- Category: Economy.
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