Diabytes
MDR charges News
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MDR is the rate charged to a merchant by a bank for providing debit and credit card services.
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The RBI on Thursday proposed to drastically cut MDR charges on debit card payments.
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In what could be a blow for digital payments system, some banks in the country have started levying Merchant Discount Rates (MDR) charges on use of debit cards for payments.
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Leading banks, including ICICI Bank and HDFC Bank, have waived merchant discount rate (MDR) on debit cards till December 31 to facilitate payments by customers following government's move to do away with the charge levied on merchants.
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