A traders' delegation led by CAIT met FM Nirmala Sitharaman over concerns on the proposed UPI MDR. Following assurances, the AICPDF and AIMRA have withdrawn their 'No UPI Day' protest call, which was scheduled for October 2, 2026.
A delegation of senior trade leaders led by Confederation of All India Traders (CAIT) Secretary General and Chandni Chowk MP Praveen Khandelwal on Wednesday met Union Finance Minister Nirmala Sitharaman to discuss concerns over the proposed Merchant Discount Rate (MDR) of 0.40 per cent on UPI transactions above Rs 2,000. Following the meeting, the All India Consumer Products Federation (AICPDF) and the All India Mobile Retailers Association (AIMRA) decided to withdraw their earlier announced “No UPI Day” protest call scheduled for October 2, 2026.
Protest Withdrawn After Constructive Dialogue
Briefing the media, Khandelwal said the decision was taken in view of the constructive discussions with the Finance Minister and the assurance that concerns raised by the trading community would receive due consideration.
A delegation of around 20 senior trade leaders from different states participated in the meeting held at the Finance Minister’s office in Kartavya Bhawan, New Delhi. The delegation included CAIT National President B C Bhartia, AICPDF President Dhairyshil Patil, AIMRA Chairman Kailash Lakhyani, All India Jewellers & Goldsmith Federation President Pankaj Arora and other representatives from various sectors of trade and retail.
Traders' Concerns Over Financial Burden
Earlier, Lakhyani and Patil had raised concerns over the possible impact of the proposed MDR on traders, especially small and medium businesses. They stressed the need to maintain the growth of digital payments while ensuring that additional financial burden is not placed on merchants.
Government Assures Support
During the meeting, Sitharaman heard the concerns of the trade representatives and assured them that the government remains committed to promoting digital transactions while protecting the interests of stakeholders.
The delegation appreciated the approach adopted by the Finance Minister and the Ministry of Finance in engaging with trade bodies on the issue. Trade leaders reiterated their support for the Digital India mission and the growth of UPI, which they described as a major achievement in India’s digital payments ecosystem. They said their objective was not against digital payments but to ensure that policies related to digital transactions remain balanced and supportive of consumers, traders and MSMEs.
The delegation expressed confidence that continued dialogue between the government and trade organisations would help develop a sustainable framework for strengthening India’s digital economy while safeguarding the interests of millions of traders and small businesses. (ANI)
(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)