Updated By: LatestGKGS Desk
Reserve Bank declares that 0.25% charges on payment through debit card upto Rs.1000 and 0.5% charge on transaction less than 2000.
The charges are the discount rates that the merchants pay to banks for card payments below Rs.2000.
It is also declared that customers doing digital transactions below Rs.1000 done through UPI, USSD or IMPS.
The existing merchant discount rate charges (MDR) were 0.75% for Rs.1000 and upto Rs.2000 were 1%.
The new Merchant Discount Rate charges are proposed from 1st January 2017 till 31st March 2017.
The ATM transactions will not be affected by this changes.
Reserve Bank of India (RBI) Positive Pay feature to digitall...
Reserve Bank of India (RBI) approved 57 Thousand Crore divid...
The Committee on the Development of Housing Finance Securiti...
Internal Working Group submits a report on agricultural cred...
RBI to set up small finance banks (SFB) to expand banking se...
RBI Eliminates Charges On RTGS & NEFT Transactions, ATM ...
RBI Issues New Rs 20 Denomination Banknote: Details, Feature...
Daily GK GS Current Affairs Sunday, 28th April 2019 1. ...
Daily GK GS Current Affairs Monday, 25th March 2019 1. ...
Daily GK GS Current Affairs Thursday, 3rd January 2019 1.&n...
Daily GK GS Current Affairs Friday, 28th December 2018 ...
RBI constitutes Expert Committee on Economic Capital Framewo...
» RBI orders to Digital Payment apps to provide security features
» RBI notification for withdrawal more than 2 lakh with PAN card
» RBI working for safe secure polyester coated currency notes
» TCS project on Aadhaar number for digital payment on petrol pumps
» Demonetisation drags down Nepal's Economy affected trade, tourism
Privacy Policy | Twitter | RSS