RBI reduces debit card transactions at merchant outlets to promote cashless transactions
Posted on:07 Dec 2017 16:20:27
Free Current Affairs to Your Email
07 December 2017 Current Affairs: Current affairsTo boost Digitisation, the Reserve Bank of India (RBI) has taken a crucial step revising merchant discount rates (MDR) charges on Merchants. Now even small businesses will start accepting payments from your Debit card through Scan and Pay.
DR is the rate charged to a merchant by a bank for providing debit and credit card services. As per the new rules, merchants with revenue of less than Rs 20 lakh, the MDR would be 0.4% for Rs 200 and 0.9% for Rs 1,000.
These charges will come into effect from 1 January 2018.
For accepting payments via QR (quick response) code based transactions, the charge will be 0.30 percent subject to a cap of Rs 200 per transaction.
FreshersLive - No.1 Job site in India. Here you can find latest 2017 government as well as private job recruitment notifications for different posts vacancies in India. Get top company jobs for both fresher and experienced. Job Seekers can get useful interview tips, resume services & interview Question and answer. Practice online test free which is helpful for interview preparation. Register with us to get latest employment news/rojgar samachar notifications. Also get latest free govt and other sarkari naukri job alerts daily through E-mail.