Traders’ bodies call off ‘No UPI Day’ after FinMin assures review of demands

Various traders’ bodies have called off their proposed ‘No UPI Day’ on October 2 after meeting Finance Minister Nirmala Sitharaman on Wednesday. The traders urged the Finance Ministry to make changes to the proposed Merchant Discount Rate (MDR) framework to ensure that it does not impose an additional financial burden on them. The ministry assured them that their concerns would be examined.

A delegation of around 20 senior trade leaders from different states, including representatives of the Confederation of All India Traders (CAIT), All India Mobile Retailers Association (AIMRA) and All India Consumer Products Distributors Federation (AICPDF), met Sitharaman to discuss concerns over the proposed MDR of 0.40% on UPI transactions above Rs 2,000.