Leading trader bodies have withdrawn their planned October 2 “No UPI Day” protest after a delegation of around 20 trade leaders met Finance Minister Nirmala Sitharaman in New Delhi. The traders had raised concerns over the proposed UPI Merchant Discount Rate (MDR).
The All India Consumer Products Distributors Federation (AICPDF) and All India Mobile Retailers Association (AIMRA) decided to withdraw the protest following what they described as constructive discussions and assurances that their concerns would be considered.
The proposed 0.4% MDR on eligible merchant UPI transactions above ₹2,000 is still scheduled to take effect from October 15. The trader bodies have sought a deferment, a higher transaction threshold and exclusion of merchant-to-merchant transactions from the proposed fee structure.
