UPI Fees Won't Rain on the Payment Parade, Says RBI Chief

RBI's Sanjay Malhotra declares that the new merchant discount rate (MDR) on UPI transactions, kicking off on October 15, won't rain on anyone's payment parade! With a whopping 802 million daily transactions in September, he believes this tiny fee won't slow down the fun. Merchants will handle the MDR, but P2P transfers and small payments are still free. Let the payments roll on!