Traders have now come out openly against UPI charges. Major organizations like the Federation of All India Traders (FAIVM) and the Confederation of All India Traders (CAIT) have declared Gandhi Jayanti, October 2nd, as "No UPI Day." This means that traders will not accept UPI payments on this day. Customers will have to make these transactions either in cash or using credit cards to purchase their goods.
Why are traders opposing this?
Traders are upset with the 0.4% Merchant Discount Rate (MDR) charge on UPI transactions. Traders are protesting against this charge. Goods and products like petrol, diesel, groceries, electronics and grains already have low profits. Now a new tax burden is being imposed on them. This amount may seem small on the surface, but it will be a big burden on the traders' pockets for big transactions. The Retail Garments Association in Indore has already warned that if the MDR decision is not withdrawn before October 15, they will throw the UPI QR code machines into the river.
This government decision has angered traders. Just yesterday, September 23rd, around 125 trade associations in Madhya Pradesh cities like Bhopal, Indore, Jabalpur, and Gwalior implemented a "No UPI Day." This movement has spread to several states, impacting approximately 25% of business. The Maharashtra Chamber of Commerce (MACCIA) and the Petrol Pump Dealers Association have also supported this one-day UPI shutdown.
Merchants to support 'No UPI Day'
According to a report in Business Standard, Maharashtra Chamber of Commerce, Industry and Agriculture President Ravindra Mangwe has clarified that 'No UPI Day' will be implemented on October 2. Traders will not use UPI on this day not only in Maharashtra but in many states of the country. He said that MACCIA and 500 organizations associated with it will put forth their issues and problems before Chief Minister Devendra Fadnavis. Federation of Retail Traders Welfare Association, All India Consumer Products Distributors Federation, All India Mobile Retailers Association, All India Jewellers and Goldsmiths Federation and All India Edible Oil Traders Federation along with many other organizations have supported 'No UPI Day' on October 2.
PC: TV9 HINDI
