Rs 300 cap on UPI MDR ‘not affordable’ for stockbrokers, says Groww

The proposed Rs 300 cap on UPI merchant discount rate (MDR) for capital market transactions “is not affordable” for stockbrokers, said Groww co-founder and CFO Ishan Bansal, arguing that customers frequently add money to broker-wallets without actually transacting. “Rs 300 is not affordable either for us or for the customer because a lot of time customer doesn’t actually transact. They add money and then they don’t transact.