Indian Traders Call Off 'No UPI Day' Protest After Meeting FM Sitharaman

AIMRA and AICPDF cancelled their October 2 'No UPI Day' protest against the proposed UPI merchant discount rate after 20 trade associations met Finance Minister Nirmala Sitharaman. The 0.4% MDR on P2M UPI transactions above ₹2,000, capped at ₹300, takes effect October 15.

• October 2 'No UPI Day' protest called off after meeting with Sitharaman
• 0.4% MDR applies to UPI P2M payments above ₹2,000, capped at ₹300
• Trade groups seek MDR deferment and higher exemption limit of ₹5 Lakh
• New MDR regime takes effect October 15, ending seven-year zero-MDR policy