Traders withdraw October 2 ‘No UPI Day’ call after meeting FM Sitharaman

As per the latest business developments, Leading traders' bodies have withdrawn their call to observe October 2 as a “No UPI Day” after a delegation of trade leaders met Finance Minister Nirmala Sitharaman in New Delhi on Wednesday.

The proposed 0.4 percent fee on merchant payments above Rs 2,000, which had triggered the protest, is still scheduled to take effect from October 15.

A delegation of around 20 senior trade leaders from across states met FM Sitharaman to mobilize concerns over the likely impact of the fee on small and medium 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).

The All India Consumer Products Federation and the All India Mobile Retailers Association had announced a "No UPI Day" for October 2.

Khandelwal, briefing the media, stated that "in view of the constructive discussions and the assurance that the concerns boosted by the trading community will receive due consideration," both organisations had decided to withdraw the call.