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Prasanta Sahu

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Southern Asia
As seen in: Financial Express, MSN India, The Wall Street Journal, Yahoo Finance India, MDPI, The Indian Express, The Hindu, The New Indian Express, EIN News, The Hans India, Mondaq and
Financial Express. Previously with WSJ, Dow Jones Newswire, Business Standard and The Press Trust of India. Tweets are personal.
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Articles

Centre mulls 0.25-0.35% fee on high-value UPI payments

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By Prasanta Sahu Verified
| Financial Express Verified
With legislative changes introduced in Parliament, the Centre may reintroduce a merchant discount rate (MDR) of 0.25-0.35% on UPI transactions over Rs 2,000 for large merchants to compensate banks and payment service providers for rising operational costs and technology investments, sources said, citing ongoing deliberations. However, merchants and businesses with an annual turnover up to Rs 1.5 crore are likely to be exempt from the levy, irrespective of the transaction amount.
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‘BIS is pushing new anti-bribery, AI and ayurveda standards’ Q&A with BIS DG Sanjay Garg

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By Prasanta Sahu Verified
| Financial Express Verified
The expansion of Quality Control Orders (QCOs) has made quality regulation central to India’s manufacturing and trade policy. Bureau of Indian Standards (BIS) Director General Sanjay Garg explains the rationale behind QCOs, their impact on domestic manufacturing, how they support MSMEs and emerging technologies, and India’s growing role in shaping global standards in an interview with Prasanta Sahu. Edited excerpts: Q: Do BIS norms help domestic industry thrive?
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Bill to enable UPI MDR likely to be tabled on Tuesday

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By Prasanta Sahu Verified
| Financial Express Verified
The Centre is likely to introduce a Bill in Parliament on Tuesday to amend the Payment and Settlement Systems Act, 2007, paving the way for the levy of merchant discount rate (MDR) on UPI and RuPay debit card transactions, sources said. The government had scrapped MDR on UPI and RuPay debit card transactions from January 2020 to encourage digital payments and expand merchant acceptance. Before that, merchants paid an MDR of less than 1% on UPI and RuPay debit card transactions.
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