Meanwhile, the panel cautioned that delay in operationalising enabling statutory provision for levying MDR on high-value transaction might have serious repercussion. “Given the sustainability of the UPI ecosystem and the burden on the Government exchequer, the Department is currently exploring two options. From January 2020, zero MDR was announced on all UPI (P2M) transactions to accelerate digital payment adoption and encourage a shift from cash to digital. In its submission, the department said that the zero MDR policy had eliminated the core revenue streams for the UPI ecosystem. “The committee had, therefore, recommended that the department explore a self-reliant, tiered revenue mechanism to ensure financial sustainability without perpetually straining the exchequer,” it said.