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The Lok Sabha passed the Taxation and Other Laws (Amendment) Bill, 2026 on Thursday, clearing the legal path for the government to impose a Merchant Discount Rate (MDR) on UPI transactions. Finance Minister Nirmala Sitharaman moved the bill, which was approved by voice vote without any debate as opposition MPs shouted slogans and displayed placards. The bill amends the Payment and Settlement Systems Act, 2007, giving legal backing to modify the current zero-MDR framework....
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