Briefing the media after Wednesday’s meeting, CAIT secretary general Praveen Khandelwal said their concerns were aimed at the financial implications of the MDR for merchants and were not intended as opposition to digital payments. Photo: X screengrab | @ANI
UPI MDR: Trade bodies withdraw ‘No UPI Day’ call after meeting FM
AICPDF and AIMRA withdraw October 2 protest after government assures trade bodies their concerns over the new UPI MDR framework will be considered
The All India Consumer Products Distributors Federation (AICPDF) and All India Mobile Retailers Association (AIMRA) have withdrawn their proposed 'No UPI Day' protest scheduled for October 2 after a delegation of senior trade leaders met Union Finance Minister Nirmala Sitharaman in New Delhi on Wednesday (September 30) to discuss concerns over the new Merchant Discount Rate (MDR) framework for certain UPI transactions.
The delegation of around 20 trade leaders was led by Chandni Chowk MP and Confederation of All India Traders (CAIT) secretary general Praveen Khandelwal. It included CAIT national president BC Bhartia, AICPDF president Dhairyshil Patil, AIMRA chairman Kailash Lakhyani, and All India Jewellers & Goldsmith Federation president Pankaj Arora, among other representatives.
The meeting comes days before the new UPI MDR framework is scheduled to take effect on October 15. Under the framework announced by the government, a 0.4 per cent MDR will apply to specified person-to-merchant UPI transactions above Rs 2,000, capped at Rs 300 for transactions of Rs 75,000 and above.
Govt's assurance
Briefing the media after Wednesday’s meeting, Khandelwal said the protest call had been withdrawn after the government assured that the concerns raised by the trading community would receive due consideration.
The trade delegation said its concerns focused on the financial implications of the MDR for merchants and were not intended as opposition to digital payments.
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The withdrawal of the October 2 protest now leaves further discussions between the government and trade organisations as the immediate focus, with the new MDR framework scheduled to come into force from October 15.