Railway tickets to get cheaper after removing the MDR taxes
Railway tickets to get cheaper after removing the MDR taxes
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Those traveling by train will have to spend less money on booking tickets soon. The Government is considering removal of Merchant Discount Rate (MDR) charge on booking tickets online through IRCTC. It means it is clear that whenever you book rail ticket through debit and credit card, you will have to pay less than the ticket. 

After booking the online ticket till March 2018, the service charge is announced to continue the discounts. This facility was extended from June 3 to September 30. After the ban in November last year, the government had announced the exemption of service fee to encourage the digital medium of booking.

"At present, talking to the banks in this regard, so that it can be ascertained that what can be done to free railway passengers from the burden of MDR," said Railway Minister Piyush Goyal

He said, "IRCTC gives a merchant discount rate to the Consumers. I am telling him to finish it and we are talking to banks for this. They also had to say that it will happen in two to three days. ' 

The Central bank had to cut the first MDR charge on payment of Rs 1,000 debit card 0.25 percent. Debit card payments (including government payments) reduced the MDR to 0.25 percent and 0.5 percent on transactions between Rs 1,000 and Rs 2,000 for up to 1,000 rupees. There is 1% MDR on big transactions. These rates are based on guidelines issued by the RBI after the cancellation, whose period has also been extended later.

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