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Traders Withdraw 'No UPI Day' Call After Meeting Finance Minister Nirmala Sitharaman
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News18•01-10-2026, 12:11
Traders Withdraw 'No UPI Day' Call After Meeting Finance Minister Nirmala Sitharaman
- •Major trade organizations have withdrawn their call to observe October 2nd as "No UPI Day."
- •The protest was against a proposed 0.4% charge (MDR) on merchant payments exceeding Rs 2,000.
- •A delegation of trade leaders met Finance Minister Nirmala Sitharaman in New Delhi.
- •Traders urged the government to postpone MDR implementation and review the Rs 1 lakh limit.
- •Finance Minister assured that the government is committed to promoting digital transactions while safeguarding stakeholders' interests.
Key Questions Answered
Traders protested against the proposed introduction of a 0.4% merchant discount rate (MDR) on merchant UPI payments exceeding Rs 2,000, which was scheduled to take effect on October 15th.
No, major trade organizations withdrew their call to observe 'No UPI Day' after a delegation of trade leaders met with Finance Minister Nirmala Sitharaman in New Delhi.
Trade bodies urged the government to postpone the MDR implementation for the festive season, review the Rs 1 lakh limit to increase it to Rs 5 lakh, and exclude merchant-to-merchant transactions.
