News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Circulars »
 Auction of Government of India Dated Securities July 15, 2019
 Auction for Sale (re-issue) of Government Stock (GS) July 15, 2019
  RBI - Auction of State Government Securities
  RBI releases Draft Report of the Internal Working Group on Comprehensive Review of Market Timings
 Finance Minister addresses the Central Board of Directors of Reserve Bank of India
 RBI releases Draft Report of the Internal Working Group on Comprehensive Review of Market Timings
  Finance Minister addresses the Central Board of Directors of Reserve Bank of India
  Auction for Sale (issue/re-issue) of Government Stock (GS) July 8, 2019
 Auction of Government of India Dated Securities July 8, 2019
 RBI Announces Additional Liquidity Facility to Banks for Purchase of Assets from and/or onlending to NBFCs/HFCs
 Master Circular – Lead Bank Scheme

RBI-Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions Continuance of Special Measures
April, 03rd 2017

RBI/2016-17/264
DPSS.CO.PD No.2737/02.14.003/2016-17

March 30, 2017

The Chairman and Managing Directors / Chief Executive Officers
All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks /
State Co-operative Banks / District Central Co-operative Banks /
Payments Banks and Small Finance Banks /
All Card Network Providers

Dear Madam / Sir,

Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions – Continuance of Special Measures

A reference is invited to our circular DPSS.CO.PD.No.1515/02.14.003/2016-17 dated December 16, 2016 wherein special measures for debit card transactions (including for payments made to Government) were introduced for a temporary period starting January 1, 2017 through March 31, 2017. Further, attention is also invited to “Draft Circular - Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions” dated February 16, 2017 wherein comments from the public were sought for the proposed MDR framework for debit card transactions till February 28, 2017.

2. Reserve Bank of India has since received feedback from various stakeholders including banks, non-bank entities, individuals and Government Departments / Ministries. The feedback so received are being examined for rationalisation. Till the issuance of final instructions on MDR for debit card transactions, the extant instructions issued vide our circular dated December 16, 2016 shall continue.

3. The directive is issued under Section 10(2) read with Section 18 of Payment and Settlement Systems Act 2007 (Act 51 of 2007).

Yours faithfully

(Nanda S Dave)
Chief General Manager-in-charge

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Outsourcing Test Solutions Software Testing Software Bug Testing Software Issues Tracking Software Issue Fix Software Code Optimization Database Design Optimization

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions