28 Feb 2017
Oil companies agree to bear MDR charges
Fuel retailers Indian Oil, Bharat Petroleum and Hindustan Petroleum will pay merchant discount rate, a fee on card usage at swipe machines, for fuel purchased using debit cards.
24 Feb 2017
RBI's decision on MDR is a coin with flip side
If RBI makes banks receive lesser charges from merchants for cashless payments, then banks may be forced to recoup the money as transaction costs from other services.
18 Feb 2017
RBI mulls linking MDR charges with merchant revenue
The RBI wants to scrap the current system of flat Merchant Discount Rate (MDR) and link the charge in proportion to the annual revenue of the merchant.