NEW DELHI: The government is working to reduce Merchant Discount Rate (MDR) charges to encourage digital payments Niti Aayog CEO Amitabh Kant said today. "We are pushing digital transactions. Our aim is to bring down MDR charges. Also if volume of transactions increase, MDR charges will come down," Kant said.Referring to RBI's recent draft circular on rationalisation of MDR for debit card transactions, the Niti Aayog CEO said, "We are examining RBI's draft circular on MDR. However, there is no RBI cap on MDR on credit card payments.Post demonetisation, the RBI has reduced the charge till March 31.

Source: Economic Times February 21, 2017 11:37 UTC