MERCHANT DISCOUNT RATE(MDR)
DETERMINED BY RBI DEBIT CARD AND CREDIT CARD SWAPPING Charge by bank from the trader . Trader and Retailer charge it to the customer
RETAILER-UPTO Rs 2000-0.75% and more than Rs 2000-1% . Rattan P WATTAL COMMITTEE FROM 1ST JAN 2018 GOVERNMENT WILL BEAR CHARGE Upto Rs 2000/ Credit card charges are not beared
FOR TRADER UPTO 20 LAC TURNOVER-0.4% AND QR CODE-0.3%(NOT MORE THAN 200 RUPEES) MORE THAN 20 LAC TURNOVER-0.9% AND QR CODE-0.8%(NOT MORE THAN 1000) . .
Consider the following statement: 1. Merchant Discount Rate is determined by Government 2. The highest rate of MDR is 0.9% for trader and the lowest rate is 0.3% for trader 3. Rattan P Wattal committee has appointed for digital payment. Which of the statement is/are correct? a.2 and 3 b. only3 c. only1 d. 1,2 and 3
MBA,PGDFM Author of Bhavishya Arthik Patrika(for Civil Services), worked in SBI group for 7 years, teaching indian economy to UPSC student