Finance Ministry

Centre Denies Foreign Pressure UPI MDR Claims

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The Centre on Wednesday rejected claims that the introduction of a Merchant Discount Rate (MDR) on UPI payments was driven by foreign influence, pushing back against opposition allegations that the move aimed to appease US policies. Clearing the air, the Finance Ministry stated that India’s policy decisions are made independently to build a self-sustaining and … Read more

Centre Strongly Rebuts Opposition Allegations, Affirms Full Policy Sovereignty:

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The Central Government on Wednesday firmly pushed back against allegations raised by opposition parties claiming that the introduction of the Merchant Discount Rate (MDR) on UPI transactions was executed under international coercion. Issuing an official clarification from New Delhi, the Union Ministry of Finance categorically stated that all structural decisions governing the Unified Payments Interface … Read more