Tag Archives: Lowers

RBI Lowers Merchant Discount Rate For Small Debit Card Transactions

Mumbai: To encourage digital transactions, the Reserve Bank today decided to slash MDR charges on payments made through debit cards and do away with levies on small transactions through mobile phones and Internet from January 1 to March 31. The Merchant Discount Rate (MDR) for debit card payments, including for payments made to government, will be capped at 0.25 per ... Read More »

Government Tightens Note Exchange Norms, Lowers Limit To Rs. 2,000

New Delhi: With the shock demonetisation move in the middle of marriage and sowing seasons causing hardships, the government on Thursday eased restrictions on cash withdrawals by farmers and families with upcoming weddings but more than halved the limit at Rs. 2,000 for exchange. Economic Affairs Secretary Shaktikanta Das said now families preparing for a wedding can withdraw up to ... Read More »

Axis Bank Lowers Lending Rate

New Delhi: Private sector lender Axis Bank on Wednesday cut its lending rate by 0.05 per cent, a move which will lower EMIs for its new borrowers. The new rate for one-year lending tenure has been reduced to 9.25 per cent from 9.30 per cent, Axis Bank said in a statement. Similarly, the two-year marginal cost of funds-based lending rate (MCLR) stands reduced to 9.35 ... Read More »