Investment firms speak out against how MDR on UPI impacts them

Founders of both online brokerage Zerodha and mutual fund and investment advisory CapitalMind have spoken out against the UPI merchant discount rate (MDR) being applicable on mutual fund investments. They are, of course, impacted parties (both Zerodha and Capital Mind have mutual funds), and related parties (Zerodha’s Rainmatter is an investor in CapitalMind), and this is thus probably the first we’re seeing of merchants speaking out about MDR: 1. MDR is more expensive than previous transaction