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PCI submits letter to PM Modi seeking re-evaluation of zero MDR for UPI and RuPay Debit

Mumbai, March 24: The Payments Council of India (PCI), an industry body representing a diverse range of non-banking payment industry players, with 180 members, has submitted a formal letter to the Prime Minister Narendra Modi, seeking urgent reconsideration of the Zero Merchant Discount Rate (MDR) policy for Unified Payments Interface (UPI) and RuPay debit card transactions, according to a release.