Which Law Was Amended to Allow MDR on UPI Payments? | Current Affairs 2026 | Banking MCQ

The Lok Sabha recently passed amendments to the Payment and Settlement Systems Act, 2007, giving the government the authority to permit banks and payment service providers to levy charges, including Merchant Discount Rate (MDR), on UPI and other notified digital payment transactions.

📚 MCQ:
Which law was recently amended by the Lok Sabha to give the government the authority to permit banks to levy transaction charges (MDR) on UPI payments?

✅ Answer: Payment and Settlement Systems Act, 2007

In This Video, You’ll Learn

✅ The correct answer to the MCQ
✅ What is the Payment and Settlement Systems Act, 2007?
✅ What is Merchant Discount Rate (MDR)?
✅ How the amendment affects UPI transactions
✅ Important Banking, Economy, and Digital Payments facts for competitive exams

📌 Like 👍 | Share 📤 | Subscribe 🔔 for daily Current Affairs, Banking Awareness, Economy, and exam-oriented MCQs.

#CurrentAffairs2026 #UPI #MDR #PaymentAndSettlementSystemsAct #BankingAwareness #DigitalPayments #BankingExams #UPSC #SSC #GK #MCQ

UPI charges, MDR on UPI, Payment and Settlement Systems Act 2007, UPI Current Affairs 2026, Banking Current Affairs, Digital Payments, Merchant Discount Rate, Lok Sabha, Banking Awareness, Economy Current Affairs, UPSC, SSC, Banking Exams, Railway Exams, Current Affairs MCQ