“For transactions up to Rs 1,000, MDR shall be capped at 0.25% of the transaction value and that above Rs 1,000 and upto Rs 2,000, MDR shall be capped at 0.5% of the transaction value,” said the RBI in a statement released on Friday. It did not say anything about changes in MDR for transactions above Rs 2,000. The regulator has further added that these changes would not be affected on ATM transactions. It would review the charges in the meantime by consulting with various stakeholders, which could include banks, payment companies and the government.
http://m.economictimes.com/industry/banking/finance/banking/rbi-to-lower-charges-on-debit-card-transactions-of-up-to-rs-2000/amp_articleshow/56021746.cms
http://m.economictimes.com/industry/banking/finance/banking/rbi-to-lower-charges-on-debit-card-transactions-of-up-to-rs-2000/amp_articleshow/56021746.cms
