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Scheme for Reimbursement of MDR- withdrawal of RBI circulars

RBI/2018-19/210
DGBA.GBD.No.3089/43.33.001/2018-19

June 13, 2019

To

All Acquiring Banks of Debit Card/ BHIM UPI/ BHIM Aadhaar Pay transactions

Dear Sir

Scheme for Reimbursement of MDR- withdrawal of RBI circulars

Please refer to our following instructions on the MDR reimbursement schemes:

i.            Circular no. RBI/2016-17/228
DGBA.GAD.No.2128/44.02.001/2016-17 dated February 16, 2017

ii.            Circular no. RBI/2017-18/55
DGBA.GBD.No.505/31.02.007/2017-18 dated September 7, 2017

iii.            Letter no. DGBA.GBD.No.2773/43.33.001/2017-18 dated May 4, 2018

iv.            Letter no. DGBA.GBD.No.470/43.33.001/2018-19 dated August 23, 2018

2. It has been decided that reimbursement of MDR claims will be handled directly by Ministry of Electronics and Information Technology (MeitY) w.e.f. January 01, 2019. In view of this, the above mentioned circulars/letters issued by Reserve Bank of India stand withdrawn from the date of this circular.

Yours faithfully

(Charulatha S Kar)
Chief General Manager

 

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