What is the new Merchant Discount Rate(MDR) for transactions above Rs 2,000 in BHIM UPI (Unified Payment Interface) transactions?

National Payments Corporation of India (NPCI) has waived merchant fees for offline UPI transactions of up to Rs 100 made using QR(Quick Response) code scan-and-pay. For the large transactions, merchant fees have been capped at Rs 100. ii. For other transactions, the merchant discount rate (MDR) has been hiked to 0.30% (maximum Rs 100). Currently, it is 0.25% for transactions up to Rs 2,000. It will be 0.65% for transactions above Rs 2,000. The revised MDR rates will come into effect from October 1, 2019.