The All India Mobile Retailers Association (AIMRA) and the All India Consumer Products Distributors Federation (AICPDF) called off their planned 'No UPI Day' protest scheduled for October 2 after meeting Finance Minister Nirmala Sitharaman. The protest was organized to oppose the proposed merchant discount rate (MDR) on UPI transactions, which trade bodies said would impact small and medium businesses, according to inc42.com.
A delegation of over 20 trade organizations, including AIMRA and AICPDF, met the finance minister to discuss their concerns. The group was led by Praveen Khandelwal, BJP MP from Chandni Chowk and secretary general of the Confederation of All India Traders (CAIT). Khandelwal said the finance minister assured them that their issues would be taken seriously, leading to the withdrawal of the protest call. The trade bodies requested a deferment of the MDR implementation ahead of the festive season and sought exclusion of merchant-to-merchant transactions from the MDR regime.
The trade associations also proposed raising the monthly receipt limit for merchant exemptions from ₹1 lakh to ₹5 lakh, aiming to ease the burden on smaller businesses. The discussions included cybersecurity concerns related to digital payments. The move to call off the protest reflects ongoing dialogue between the government and trader organizations on critical issues affecting the retail sector, as reported by inc42.com.
Praveen Khandelwal emphasized continued engagement, stating that dialogue on essential matters, including cybersecurity, will continue between the government and trader organizations. The next steps will likely involve government consideration of the MDR proposals and exemption limits before the festive season, a crucial period for retail businesses.