Punjab & Sind Bank MD says MDR cannot be passed to consumers
In short
Punjab & Sind Bank’s MD said merchants using UPI cannot add MDR charges to what customers pay.
The rule means shoppers should pay only the posted price. The report does not say if there are penalties, changes to the system, or any new deadline.
What the reporting says
Punjab & Sind Bank’s MD said merchants onboarded cannot pass MDR charges to customers when taking UPI payments. The publisher summary says the framework ensures consumers pay only the posted price. The immediate effect is clearer pricing for retail buyers, but the reporting does not say whether enforcement has changed or whether any merchants are affected now.
Why it matters
Punjab & Sind Bank’s MD said merchants onboarded for UPI payments cannot pass MDR charges to consumers, and that customers should pay only the posted price. This affects retail payments, merchants and banks involved in UPI transactions. The report does not say whether the statement reflects a new rule, an existing rule or any enforcement action, so the immediate market impact is limited.