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As people continue to face cash crunch after the scrapping of high value notes, the Union government on Wednesday decided to waive off MDR (Merchant Discount Rate) charges on use of debit cards and service charges on online Railway ticket booking till December 31.

“Public sector banks and some private sector banks (are already doing it), we have been talking to (other) private sector banks, and some of the service providers who provide switching services, they have agreed to waive the service charges on the use of debit cards till December 31, 2016,” Shaktikanta Das, Secretary, Department of Economic Affairs said.

“The MDR charges on use of debit cards, RuPay cards it has already been done, the charges being levied by the banks and the switching charges will stand completely waived. So there will be no charge on use of debit cards,” Das added.

 

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