Mumbai, Sept. 15 -- The finance ministry on Tuesday announced that a 0.4% merchant discount rate (MDR) will apply to person-to-merchant (P2M) UPI transactions above Rs.2,000, while person-to-person (P2P) transactions will remain free irrespective of their value.For transactions of Rs.75,000 and above, the MDR will be capped at Rs.300 per transaction, the ministry said in a statement.The announcement brings to a close months of discussions over charges for higher-value UPI transactions. The new framework follows the government's decision on Monday to keep UPI transactions of up to Rs.2,000 free of MDR, with banks and payment system providers barred from imposing direct or indirect charges on such transactions.Only 4% of merchant transactio...