On what legal basis, who earns? SC asks government to explain UPI MDR charge

What is legal basis, who is earning? Supreme Court asks government, RBI to explain UPI MDR chargeThe Supreme Court has sought clarity from the government, RBI and NPCI on the legal basis for charging a Merchant Discount Rate (MDR) on certain UPI transactions. The court also asked who would ultimately receive the money collected through such charges.The matter came up during a petition challenging the implementation of UPI MDR charges. The petitioner sought a stay on the implementation of the charges, but the Supreme Court declined to grant an immediate stay.SC SEEKS CLARITY ON LEGAL BASISDuring the hearing, the court asked the authorities to explain the legal basis under which MDR can be charged on UPI transactions. It also sought clarity on the role of the RBI and NPCI in the proposed mechanism.The court questioned who would earn from the MDR charges and how the money would be distributed among the entities involved in processing UPI payments. However, the Supreme Court said it would consider the issue after the concerned authorities file their affidavits. This means the court has not taken a final view on the legality of the charges at this stage.This is a developing story. It will be updated. - Ends