In a relief to UPI users, the proposed levy of a Merchant Discount Rate (MDR) of 0.4 per cent on transactions above Rs 2,000 has been deferred, with the National Payments Corporation of India (NPCI) saying on Tuesday that a new implementation date would be announced after Diwali. According to an NPCI circular issued last month, the 0.4 per cent MDR was due to be levied on person-to-merchant (P2M) UPI payments above Rs 2,000 from October 15. "UPI and Services Steering Committee today decided that, keeping in mind the festive season, Merchant Discount Rate (MDR) on select Person-to-Merchant (P2...