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BRIEF-India Cenbank To Rationalise Framework For MDR Applicable On Debit Card Transactions
December 6, 2017 / 9:13 AM / 5 days ago

BRIEF-India Cenbank To Rationalise Framework For MDR Applicable On Debit Card Transactions

Dec 6 (Reuters) - Reserve Bank of India:

* STATEMENT ON DEVELOPMENTAL AND REGULATORY POLICIES

* DECIDED TO RATIONALISE FRAMEWORK FOR MERCHANT DISCOUNT RATE APPLICABLE ON DEBIT CARD TRANSACTIONS BASED ON THE CATEGORY OF MERCHANTS

* DIFFERENTIATED MDR FOR ASSET-LIGHT ACCEPTANCE INFRASTRUCTURE AND A CAP ON ABSOLUTE AMOUNT OF MDR PER TRANSACTION WILL ALSO BE PRESCRIBED

* TO PERMIT OVERSEAS BRANCHES OF INDIAN BANKS TO REFINANCE ECBS OF AAA RATED CORPORATES AS WELL AS NAVRATNA, MAHARATNA PSUS, BY RAISING FRESH ECBS Source text - bit.ly/2AuynJs

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