NPCI defends MDR rules in Supreme Court
In short
NPCI told the Supreme Court that its MDR rule is enforceable and not just a promise.
It said merchants cannot pass MDR charges on to customers, and the rule is backed by contracts.
What the reporting says
NPCI defended its revised framework on merchant discount rate charges in the Supreme Court, saying the ban on passing MDR charges to customers was not just a policy assurance. The corporation said it was a mandatory direction backed by contractual enforcement mechanisms. The filing frames the disputed rule as enforceable rather than voluntary.
Why it matters
NPCI defended its revised merchant discount rate framework in the Supreme Court and said the prohibition on passing MDR charges to customers is a mandatory direction with contractual enforcement. The issue matters for merchants and payment users because it affects who bears transaction costs.