New Delhi: The central government is going to give a big relief to the common people. The practice of card payment is increasing in the country. The government also wants to encourage such cashless payments. The government may soon decide not to charge any fee for making purchases up to Rs 10,000 from debit cards and credit cards. Banks working in Madhya Pradesh made this recommendation the Government of India and the Reserve Bank of India (RBI) on the basis of feedback received from their branch managers.

The banks made this recommendation on the advice received from the managers of state government, private, cooperative and rural regional banks. At present, banks charge a merchant discount rate (MDR) of 0.4% or eight rupees from a small shopkeeper for making purchases up to two thousand rupees from a point of sale or card swap machine. At the same time, big shopkeepers charge an MDR of 0.9 per cent i.e. Rs 18.

Banks charge a merchant discount rate of 0.4 per cent or Rs 80 (MDR) from a small shopkeeper for purchases up to Rs 20,000 from a point of sale or card swap machine. At the same time, big shopkeepers charge an MDR of 0.9 per cent i.e. Rs 160. Shopkeepers with a turnover of up to Rs 20 lakh fall into the category of small shopkeeper. At the same time, shopkeepers with more than 20 lakh turnovers fall in the category of big shopkeepers.

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