Traders Split Over ‘No UPI Day’ Protest As CAIT Withdraws Call After Finance Minister Nirmala Sitharaman Meet, FRTWA Stays Firm

Mumbai: Traders remained divided on Wednesday over the proposed ‘No UPI Day’ protest on October 2, with the Confederation of All India Traders (CAIT) withdrawing its call following a meeting with Finance Minister Nirmala Sitharaman, while the Federation of Retail Traders Welfare Association (FRTWA) said its protest would go ahead as planned.

CAIT Calls Off Protest After Government Assurance

The protest has been called against the proposed 0.40% merchant discount rate (MDR) on UPI transactions above Rs2,000.

CAIT said it called off the protest after Sitharaman assured its delegation that the traders’ concerns over the proposed MDR would be addressed. However, FRTWA, which described itself as a non-partisan traders’ body, said the decision did not represent the views of all traders and reiterated its call for a protest on October 2.

Over 150 Associations Claim Support For Protest

“We wish to make it categorically clear that we do not agree with any decision to call off, defer or withdraw the NO UPI DAY protest that has been announced by the CAIT,” said FRTWA president Viren Shah.

FRTWA claimed that more than 150 traders’ associations from across the country had expressed support for the protest against the proposed additional MDR/transaction charges on shopkeepers and traders.

CAIT Delegation Meets Finance Minister In Delhi

CAIT said a delegation of around 20 senior trade representatives from different states met Sitharaman at Kartavya Bhavan in New Delhi to raise concerns over the proposed MDR and its potential financial impact, particularly on small and medium-sized businesses.

The meeting was led by CAIT national secretary general Praveen Khandelwal, who is also the MP from Chandni Chowk. CAIT national president B C Bhartia, All India Consumer Products Federation president Dhairyashil Patil, All India Mobile Retailers Association chairman Kailash Lakhyani and All India Jewellers and Goldsmith Federation president Pankaj Arora were among those present.

The delegation said traders supported the Digital India initiative and UPI, describing the payments platform as a successful model of digital payments globally. It said the objection was not to digital payments but to the proposed MDR and its potential impact on traders.

Traders Support UPI But Oppose MDR Proposal

CAIT said continued dialogue between the government and trade organisations could help arrive at a practical and sustainable solution while strengthening India’s digital economy and protecting the interests of traders and small enterprises.

FRTWA, however, said CAIT could not claim to represent all traders in the country. Shah said independent associations representing cloth merchants, jewellers, mobile phone retailers, edible oil dealers, automobile retailers and grocery stores, among others, had backed the protest.

According to Shah, participating traders will not accept UPI payments on October 2 and will wear black clothes as a symbol of protest.

“This is not a protest against digital payments or UPI itself. Traders have embraced UPI and have contributed significantly to the growth of digital payments in India,” said Shah. “Our protest is against any additional MDR/transaction cost being imposed on traders for accepting UPI payments.”

To get details on exclusive and budget-friendly property deals in Mumbai & surrounding regions, do visit: https://budgetproperties.in/