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Zero merchant discount rate (MDR) policy to stay says Nirmala Sitharaman

Shortpedia

Content Team

Finance Minister Nirmala Sitharaman has said that zero merchant discount rate (MDR) policy will stay and no compensation will be given to the payment firms from the government on losses from waiving off the transaction charges. This can be seen as a major setback for digital payment firms. However, Sitharaman assured that the amount saved by banks on handling less cash would have to be used for acquiring a business.