The central government has abolished the Lagan Merchant Discount Rates (MDR) charge for digital transactions in the country. The biggest thing is that if your bank charges any charges for digital payments, the government will take action. On Sunday, the CBDT once again issued a circular for banks. The new directive once again asks banks not to charge customers MDR and other charges for any digital transactions.
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Banks have once again been instructed not to levy other charges, including MDR, on payments made in electronic mode from January 1, 2020. In a directive issued on Sunday, the CBDT said some banks were levying some charges on payments by UPI. Charges are being levied from customers after a fixed limit transaction. By doing so, the bank is violating the rules and necessary action may be taken against them.