Current Affairs Telugu Daily

Revised Merchant Discount Rates (MDR)
The Reserve Bank of India (RBI) on Wednesday revised merchant discount rate (MDR) charges, or the commission paid by a merchant to a bank for facilitating digital transactions, to encourage small businesses to start accepting card payments.
MDR rates:
1. The fee for merchants with turnover up to Rs 20 lakh in the last financial year, is capped at 0.4% for transactions via PoS terminals or online while if the transaction is via QR code-based card acceptance infrastructure, the fee is capped at 0.3%. In both cases, Rs 200 has been set as the absolute cap.
2. For merchants with the annual turnover of more than Rs 20 lakh, a cap of 0.9% is prescribed for physical PoS and online card transaction while 0.8% cap is mandated for the QR code based transaction. The absolute cap, in this case, is Rs 1000.

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