New Delhi, 13 October (H.S.):

The Confederation of All India Traders (CAIT), a traders’ organisation, has welcomed the Central Government’s decision to defer the proposed Merchant Discount Rate (MDR) charges on Unified Payments Interface (UPI) transactions. CAIT Secretary General Praveen Khandelwal said the decision was timely and pragmatic, particularly in view of the ongoing festive and wedding seasons.

Khandelwal said the decision follows a meeting held on September 30, during which a delegation of around 20 prominent trade leaders, led by CAIT, met Union Finance Minister Nirmala Sitharaman in New Delhi. The delegation apprised the Finance Minister of the potential impact of the proposed 0.40 per cent MDR charge on UPI transactions exceeding Rs 2,000.

In the meantime, CAIT has continued to coordinate and engage with trade associations across the country to effectively convey traders’ concerns to the Central Government.

Khandelwal said CAIT fully supports the positive decision taken by Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman. However, he emphasised that the payment system must remain affordable and sustainable for traders, particularly small business owners.

He added that the deferral would strengthen traders’ confidence and further reinforce the partnership between the government and the trading community in building a robust Digital India.

Hindusthan Samachar / Jun Sarkar