Petrol Pump Dealers Threaten to Stop UPI Payments Above Rs 2,000 Over MDR
Srinagar, Sept. 18 -- Petrol pump dealers in several states, including Jammu and Kashmir, have warned that they may stop accepting UPI payments above Rs 2,000 from October 15 if the newly applicable Merchant Discount Rate (MDR) on fuel transactions is not withdrawn or the sector is exempted. The move follows a revised UPI framework under which fuel transactions above Rs 2,000 will attract a flat MDR of Rs 5 from October 15. Transactions below Rs 2,000 at fuel stations will continue to remain exempt from MDR. The Federation of All India Petroleum Traders has said dealers could discontinue UPI payments above the threshold if their demand for exemption is not accepted. Dealers in Delhi-NCR, Punjab, Uttar Pradesh, Mumbai, Karnataka and Rajast...
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