Potential UPI Merchant Discount Rate earnings for major banks
According to reports citing banking industry estimates, the State Bank of India stands to benefit the most from the implementation of a Merchant Discount Rate (MDR) on UPI transactions, potentially generating up to ₹3,000 crore annually. Projections suggest that HDFC Bank and Bank of Baroda could each see earnings of ₹800 crore, with Union Bank expected to bring in ₹700 crore. At this time, the specific rate has not yet been finalized by regulators.
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