‘Seems to be an issue between the broker and client; no govt talks on new UPI MDR’: NSE CEO Ashish Chauhan
AI Summary
The introduction of the new UPI Merchant Discount Rate (MDR) for capital market transactions could lead to increased costs for retail investors, as brokers may pass on these fees. This change emphasizes the need for investors to stay informed about transaction costs, especially when engaging with brokers for stock and mutual fund investments. As the market adapts to these new charges, investors should monitor how brokers respond and whether they offer competitive pricing to mitigate the impact of these fees.
The new UPI Merchant Discount Rate (MDR) for capital market transactions has to be worked out between brokers and clients, with NSE Managing Director and CEO Ashish Chauhan saying they have not held any discussions with the government regarding the issue. The NSE boss further added that the decision was taken by the National Payments Corporation of India (NPCI) and that the industry would have to “wait and see” how brokers respond to the new cost.
“No discussion on MDR with the government. This is a decision taken by NPCI (National Payments Corporation of India) ... we will have to wait and see,” Chauhan said during an interaction with journalists after NSE’s listing on the BSE.
Original Article
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