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Mobile phone retailers appel to finance minister for waive off on MDR and DBD.

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DBD is a fee paid by a merchant to banks and non-bank companies for providing zero-interest EMI payments facility whereas MDR is paid by merchants to a bank via which a card payment has been made.

New Delhi: Mobile phone retailers have written to the finance minister to waive off fee levied on merchants while executing card payments and zero-cost EMI for buyers to boost cashless payments post lockdown, ease financial burden on retailers who are grappling with practically no sales.
In a letter to finance minister Nirmala Sitharaman dated April 13, the All India Mobile Retailers Association (AIMRA) has said, “We would appreciate it if the Finance Ministry could approach the RBI or the respective authorities to direct NBFCs and Banks to waive off DBD (dealer by down) and MDR (merchant discount rate) charges to retailers on paper finance and on digital transactions for at least 6 months post lockdown.”

Retailers are paying DBD charges of 1.5 per cent to NBFC’s on financing mobiles and MDR commission of 1.5 per cent to 3.5 per cent on different credit cards for digital transactions, AIMRA said in the letter.

The body which represents 1.5 lakh brick-and-mortar phone retailers has urged that the Reserve Bank of India (RBI) and banks should absorb the cost of transactions as mobile business which works on very thin margins will take at least six-nine months to recover after the lockdown is lifted. The government on Tuesday extended the lockdown to May 3.

As a relief measure against the COVID-19 pandemic the Reserve Bank of India (RBI) had permitted all banks and NBFCs to allow a moratorium of three months on repayment of term loans outstanding on March 1, 2020.
Retailers say even with the deferment of EMIs, the market will need months to get back cash flows.

“We also feel with the digitisation of India, charges like these should at least be brought down at par with other developed countries, where they range from 0.25 per cent to 0.5 per cent maximum. In India, these charges range from 1.5 per cent to 3.5 per cent depending on the category of the credit card,” the letter said.

Given the outbreak of COVID-19, bringing down DBD will encourage retailers to completely do away with paper currency which poses risks of transmission, AIMRA said.

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Apple is giving a huge discount on its gadgets: Details inside

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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