New Delhi, June 12 -- The Finance Ministry on Wednesday firmly denied speculation that a merchant discount rate (MDR) would be levied on Unified Payments Interface (UPI) transactions, calling such claims "completely false, baseless, and misleading," according to a report by ET Now.

Earlier in the day, social media and news platforms were abuzz with claims suggesting the government was planning to introduce MDR charges on large-value UPI transactions.

Responding with a strongly worded clarification, the ministry said such "baseless and sensational speculations" were creating unwarranted confusion and mistrust among citizens.

UPI now facilitates nearly 80% of retail digital payments, with person-to-merchant transfers alone crossing Rs.60...