Chandigarh, Sept. 21 -- Union Finance Minister Nirmala Sitharaman on Monday emphasized that the Merchant Discount Rate (MDR) transaction charges on UPI payments will not be passed on to the consumers.

The Finance Minister told ANI that she had spoken about the matter during the Parliament session also and accused the opposition parties of spreading misconceptions and trying to mislead people.

She said MDR is a charge levied by service providers to improve the system and provide better service.

"It does not apply to transactions below Rs 2,000. It is neither a tax nor a cess; the funds will not be deposited into the Consolidated Fund of India. It is a charge levied by service providers to improve the system and provide better service, n...