New Delhi: Leading traders organisations have withdrawn their call to observe October 2 as 'No UPI Day' following a meeting with Finance Minister Nirmala Sitharaman in New Delhi on Wednesday.
The decision comes after representatives of the trading community raised concerns over the proposed 0.4 percent fee on eligible merchant UPI transactions above Rs 2,000.
Traders Meet Finance Minister
A delegation comprising around 20 senior trade leaders from different states met Sitharaman and highlighted the possible impact of the proposed charge on small and medium-sized businesses.
The delegation was led by Praveen Khandelwal, Member of Parliament from Chandni Chowk and secretary general of the Confederation of All India Traders (CAIT).
Traders had argued that imposing a fee on certain UPI merchant payments could increase transaction costs for businesses that have increasingly shifted towards digital payments.
October 2 Protest Withdrawn
The All India Consumer Products Federation and the All India Mobile Retailers Association had earlier announced plans to observe October 2 as 'No UPI Day'.
As part of the proposed protest, participating retailers were expected to refrain from accepting UPI payments for the day to highlight their opposition to the new fee.
Following Wednesday’s meeting, however, the organisations decided to withdraw the protest call.
Khandelwal said the move followed constructive discussions with the finance minister and an assurance that the concerns raised by the trading community would receive due consideration.
UPI Fee Still Set For October 15
Despite the withdrawal of the protest, the proposed 0.4 percent fee has not been withdrawn.
The charge on eligible merchant UPI transactions above Rs 2,000 remains scheduled to take effect from October 15.
The development means digital payments will continue as usual on October 2, while traders will now watch for any further clarification or changes from the government before the proposed fee takes effect.
