UPI MDR is not a tax, won't mean extra cost for customers: FM Sitharaman

•Finance Minister Nirmala Sitharaman says UPI MDR is not a tax or cess, and merchants will absorb the 0.4% charge.

•The charge will be distributed among payment ecosystem participants, not collected by the government.

•Sitharaman compares UPI MDR to card payment charges, saying merchants don't pass on the cost to customers.

•96% of merchant UPI transactions will remain unaffected by the revised framework.