FinMin allays fears of increase in cash transactions post UPI MDR levy: Sources

The Finance Ministry anticipates no rise in cash transactions following the UPI MDR implementation. Only a small percentage of total UPI volume will be affected by this new charge. RuPay debit card transactions will remain free, mitigating cash transaction concerns. The ministry will monitor to prevent MDR burden transfer to consumers. This measure aims to create a sustainable digital payments ecosystem framework.