By Admin 
Paytm share falls: An explanation was given by the Finance Ministry that MDR i.e. merchant discount rate will not be charged on any transaction of UPI. As soon as this statement came from the ministry, Paytm’s shares fell down. One 97 is the parent company of Paytm, 97 Communications. However, after that statement of the Ministry of Finance, Paytm’s stock has been seen on Thursday by 10 percent.
Paytm’s stock on BSE has fallen by 6.13 percent to 901.30 on Thursday. Earlier in the year 2024, on December 17, Paytm shares were Rs 1063, while on June 12, they came to Rs 376,85.
What did the Finance Ministry say?
In fact, some such reports came out in which it was being claimed that the government is thinking of implementing MDR on 3000 or more transactions to help banks and payment solutions provider. The report said that the banks can be approved by the Finance Ministry to impose MDR on the transaction value in lieu of merchant turnover. For this reason, Paytm shares jumped and a record reached 978.
In the clarification of June 11, issued by the Finance Ministry, it was said that MDR or any kind of UPI transaction will not be applicable on UPI transactions. Also, the claims were declared misleading and completely wrong. This clarification was issued by the Finance Ministry after the stock market was closed.
It is worth noting that the fees charged from the merchants for processing of payments in real time on behalf of the bank are called MDR. The MDR fee was abolished in the year 2020 for the expansion of digital services in the country by the government. However, this year the government was asked by the Payment Counsel of India to rethink Zero MDR again on UPI transactions.
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