Stories
Bhopal Traders Observe No UPI Day In Protest Against MDR Charges
- •Wholesale and grocery traders in Bhopal observed No UPI Day by refusing digital payments to protest against MDR charges.
- •Traders stated they operate on a thin one percent margin and paying 0.4 percent MDR would leave them with no profits.
- •The Congress party supported the traders, claiming Rahul Gandhi's warnings about economic policies harming businesses have come true.
- •The BJP dismissed the allegations, stating that UPI transactions have not declined and accusing the opposition of opposing reforms.
Key Questions Answered
Traders are observing 'No UPI Day' to protest against the proposed imposition of a 0.4% Merchant Discount Rate (MDR) on UPI payments. They argue that with a thin profit margin of only one percent, paying a 0.4% charge will place an unsustainable financial burden on small and medium businesses.
The government has introduced a 0.4 percent Merchant Discount Rate (MDR) on general person-to-merchant (P2M) UPI transactions exceeding Rs 2,000, which is scheduled to come into effect on October 15. Meanwhile, UPI transactions up to Rs 2,000 and all person-to-person transfers will remain free.
The Congress party has accused the government of favoring large industrialists and American companies. They claimed that Rahul Gandhi's previous warnings during demonetization and GST implementation regarding policies harming small traders have proven true.
