49 mins ago
Trader Groups Plan October 2 ‘No UPI Day’ Protest
Several trader groups in India plan to protest on October 2.
They are calling the protest ‘No UPI Day.’
UPI is a way people and businesses make digital payments.
The groups oppose a proposed 0.04% charge on some merchant transactions.
They say even a small charge could hurt businesses with small profit margins.
They also want clarity about a proposed ₹300 transaction cap.
The Federation of Retail Traders Welfare Association says at least 28 organisations support the protest.
Another chamber says it and its 500 affiliate associations support the campaign, but that does not mean all 500 will attend.
The Confederation of All India Traders says it has not endorsed a nationwide protest.
The Federation of Retail Traders Welfare Association says at least 28 trader and business associations support an October 2 ‘No UPI Day’ protest.
Maharashtra Chamber of Commerce, Industry and Agriculture said it and its 500 affiliate associations would support the campaign, but the figure does not confirm 500 protest participants.
The associations oppose a proposed 0.04% Merchant Discount Rate or transaction charge on UPI payments.
Traders say the charge would increase costs for businesses already facing expenses including rent, salaries, taxes, logistics and online competition.
The Confederation of All India Traders said it had not endorsed a nationwide October 2 protest, though independent trader groups may participate.
- Who
- The Federation of Retail Traders Welfare Association and at least 28 listed trader and business associations; Maharashtra Chamber of Commerce, Industry and Agriculture also supports the campaign, while the Confederation of All India Traders has not endorsed it.
- What
- A proposed October 2 ‘No UPI Day’ protest against a 0.04% Merchant Discount Rate or transaction charge.
- Where
- The campaign involves trader and business associations in India; the article identifies Mumbai and Maharashtra-based organisations among the supporters.
- When
- October 2, identified in the article as Gandhi Jayanti.
- Why
- The associations say the proposed charge would increase costs for businesses operating on thin margins and seek clarity about a proposed ₹300 transaction cap.
Protest supporters
Participation qualifications
Impact of the proposed charge
Protest supporters
Trader associations say a 0.04% levy would add to the financial burden on businesses with thin margins and increase the cost of accepting digital payments.
Participation qualifications
The article does not provide a government or payments-industry response defending the proposed charge.
Scale of support
Protest supporters
The Federation of Retail Traders Welfare Association lists at least 28 supporting organisations, and Maharashtra Chamber of Commerce, Industry and Agriculture says its 500 affiliates support the campaign.
Participation qualifications
The 500 affiliate associations are not confirmed as 500 protest participants, and the Confederation of All India Traders says it has not endorsed a nationwide October 2 ‘No UPI Day’.
Position on digital payments
Protest supporters
Protesting organisations say they have supported the Government’s digital payment initiatives but oppose adding a transaction-linked cost.
Participation qualifications
The Confederation of All India Traders says independent trader organisations may participate, indicating that trader organisations do not have a single confirmed nationwide position.
Key facts
- Protest date
- October 2
- Proposed charge
- 0.04% Merchant Discount Rate or transaction charge
- Listed supporting organisations
- At least 28 trader and business associations
- Additional chamber support
- Maharashtra Chamber of Commerce, Industry and Agriculture and its 500 affiliate associations
- Transaction cap mentioned
- ₹300
- August transaction figure
- More than 24.5 billion UPI transactions, according to NPCI data cited by the Federation of Retail Traders Welfare Association
- Government representation
- Sent to Union Finance Minister Nirmala Sitharaman
Sources
Related news
Maharashtra Traders Plan Statewide Protest Over UPI Charges
Traders Plan No UPI Day Against Proposed Merchant Fee
MP Traders Observe No UPI Day Over Proposed MDR
Mobile retailers plan No UPI Day over proposed MDR
Naveen, Traders Challenge Proposed UPI Charges Ahead of October
Jharkhand Trade Body Seeks Rollback of UPI Charges
India’s Gold Sector Gears Up for $100 Billion Jewellery Exports
Government urges banks to shield consumers from new UPI fees
Government Defends UPI Merchant Fee, Says Consumers Won’t Pay
Finance Ministry Seeks to Keep UPI MDR Off Consumers
