Traders and business associations across India will observe October 2 as “No UPI Day” to protest the proposed Merchant Discount Rate (MDR) on UPI transactions above ₹2,000.
As part of the protest, traders plan to cover UPI QR codes, scanners, sound boxes and other digital payment devices with black cloth. The campaign will be held on Gandhi Jayanti, with traders urging customers to use cash instead of UPI payments during the protest.
The nationwide call has been backed by several trade organisations, including the Federation of Retail Traders Welfare Association, All India Consumer Products Distributors Federation, All India Mobile Retailers Association, All India Jewellers and Goldsmith Federation and All India Edible Oil Traders Federation. The Maharashtra Chamber of Commerce, Industry and Agriculture has also announced support for the October 2 protest.
The protest is against the proposed 0.4% MDR on eligible UPI merchant transactions above ₹2,000, which is scheduled to come into effect from October 15. Trader organisations have raised concerns that the additional charge could increase costs for businesses, particularly those operating on thin margins.
Trade bodies have said the October 2 campaign is intended to draw attention to their demand for withdrawal of the proposed MDR. They have also indicated that further agitation could follow if their concerns are not addressed.