Indian Bank May Consider Waiving 0.28% MDR On UPI Transactions, Says CEO
Indian Bank MD and CEO Binod Kumar said the lender may considering a waiver of 0.28% Merchant Discount Rate (MDR) charges on UPI transactions. He highlighted that the bank currently earns nothing from UPI, while the payment system has significantly benefited the lender by reducing manpower requirements and easing cash handling activities.
