The train ticket you will book for your next journey might cost you a little less as the government reportedly is mulling over removing the merchant discount rate (MDR) charges.
Banks charge MDR to the merchant for providing debit and credit card services. The merchant sets up a service with the bank and charges a predetermined rate on the card transactions.
In an interview to TV channel on Thursday, CNBC-TV18, the Railway Minister Piyush Goyal said that the discussions are on with the banks over MDR charges.
“Railways used to charge a service charge. Post demonetisation they removed that service charge and we saw digital transactions really shoot up. Now the only charge that is charges is the merchant discount rate (MDR). I am now engaged with bankers to see what we can do about that MDR also,” Goyal said. Read More…