If neither tax nor fee, what is this ‘expropriation’, Supreme Court asks Govt on UPI MDR charges
The Supreme Court declined a petitioner's request for an interim stay on the Reserve Bank of India's proposed merchant discount rate for Unified Payments Interface transactions. While refusing the stay, the Court issued a notice to the government seeking clarification on whether the charges constitute a tax, a fee or an expropriation, prompting further legal scrutiny.