Traders Call Off ‘No UPI Day’ Protest After Meeting FM Sitharaman

by · Inc42

SUMMARY

  • The move came after representatives of 20 trade associations met FM Nirmala Sitharaman to raise concerns related to the likely impact of the UPI MDR on small businesses
  • While the retailers and distributors have called off their protest, it will be interesting to see whether the Centre gives in to the demands of the protestors
  • The industry bodies sought deferment of the proposed MDR ahead of the festive season and to keep merchant-to-merchant transactions outside the ambit of the proposed regime