'No question of rollback of 0.4% MDR charges on UPI transactions over Rs 2,000'

New Delhi, Sept. 17 -- There is no question of a re-think on the issue of imposition of 0.4 per cent MDR charges on Unified Payments Interface (UPI) transactions over Rs 2,000, government sources said on Wednesday.

A top official, when asked whether the government was considering to roll back the proposed Merchant Discount Rate charges on UPI transactions above Rs 2,000, to be implemented from October 15, said a decision has been taken and there was no question of reversing it.

Sources said the decision to impose MDR charges was taken in the larger interest of the UPI ecosystem and to strengthen its safety and security.

The decision to levy charges, as prevalent in other countries, was taken at the time of introduction of UPI system in 2...