Railway fares are likely to take a plunge as the government is planning to withdraw the merchant discount rate (MDR) charges. The MDR charges are currently applicable on payments made through debit or credit card for railway bookings by Indian Railway Catering and Tourism Corporation (IRCTC). As per an Economic[Read More…]
Tag: Merchant Discount Rate
MDR rates on debit card payments slashed by RBI
The Reserve Bank of India on Friday decided to slash Merchant Discount Rate (MDR) charges on payments made through debit cards. For transactions of up to Rs 1,000, MDR will be capped at 0.25% of the transaction value. For transactions above Rs 1000, and up to Rs 2000, MDR will[Read More…]