₹2,000+ UPI payment charges: SC refuses interim stay on 0.4% MDR, issues notice to govt, RBI, NPCI and others

The Supreme Court has declined to grant an interim stay on the government’s new merchant discount rate policy. This policy imposes a 0.4% charge on specific Unified Payments Interface transactions exceeding Rs 2,000. The decision comes as a public interest litigation challenges the legality of this levy. Notices have been issued to the government and financial organizations involved. The new policy is set to take effect on October 15.