|
A delegation of senior trade leaders led by Confederation of All India Traders (CAIT) Secretary General and Chandni Chowk MP Praveen Khandelwal on Wednesday met Union Finance Minister Nirmala Sitharaman to discuss concerns over the proposed Merchant Discount Rate (MDR) of 0.40 per cent on UPI transactions above Rs 2,000.
Following the meeting, the All India Consumer Products Federation (AICPDF) and the All India Mobile Retailers Association (AIMRA) decided to withdraw their earlier announced No UPI Day protest call scheduled for October 2, 2026. Briefing the media, Khandelwal said the decision was taken in view of the constructive discussions with the Finance Minister and the assurance that concerns raised by the trading community would receive due consideration. A delegation of around 20 senior trade leaders from different states participated in the meeting held at the Finance Ministers office in Kartavya Bhawan, New Delhi. The delegation included CAIT National President B C Bhartia, AICPDF President Dhairyshil Patil, AIMRA Chairman Kailash Lakhyani, All India Jewellers & Goldsmith Federation President Pankaj Arora and other representatives from various sectors of trade and retail. Earlier, Lakhyani and Patil had raised concerns over the possible impact of the proposed MDR on traders, especially small and medium businesses. They stressed the need to maintain the growth of digital payments while ensuring that additional financial burden is not placed on merchants. During the meeting, Sitharaman heard the concerns of the trade representatives and assured them that the government remains committed to promoting digital transactions while protecting the interests of stakeholders. The delegation appreciated the approach adopted by the Finance Minister and the Ministry of Finance in engaging with trade bodies on the issue. Trade leaders reiterated their support for the Digital India mission and the growth of UPI, which they described as a major achievement in Indias digital payments ecosystem. They said their objective was not against digital payments but to ensure that policies related to digital transactions remain balanced and supportive of consumers, traders and MSMEs. The delegation expressed confidence that continued dialogue between the government and trade organisations would help develop a sustainable framework for strengthening Indias digital economy while safeguarding the interests of millions of traders and small businesses. (ANI)
|
