New Delhi, 30 September (H.S.): A delegation of senior trade leaders from across India, led by Praveen Khandelwal, National Secretary General of the Confederation of All India Traders (CAIT), met Union Finance Minister Nirmala Sitharaman in New Delhi. Following assurances on the proposed 0.40 per cent Merchant Discount Rate (MDR) charge on UPI transactions above Rs 2,000, the All India Consumer Products Federation (AICPDF) and the All India Mobile Retailers Association (AIMRA) have withdrawn their call for a nationwide “No UPI Day” protest scheduled for October 2, 2026.

Khandelwal told the media on Wednesday that the decision followed a positive and constructive discussion with Finance Minister Nirmala Sitharaman, along with assurances that the concerns raised by trade organisations would be duly considered.

He said a delegation comprising around 20 senior trade leaders from different states met the Finance Minister at Kartavya Bhavan in New Delhi to convey the concerns of the trading community regarding the proposed 0.40 per cent MDR on UPI transactions above Rs 2,000.

Khandelwal said the trade organisations decided to withdraw their nationwide protest and the proposed “No UPI Day” call after receiving a positive assurance from the Finance Minister. He said Sitharaman listened to the delegation’s concerns carefully and assured the representatives that the government remained committed to promoting digital transactions while safeguarding the interests of all stakeholders.

The CAIT National Secretary General said the delegation expressed its appreciation to the Finance Minister and the Ministry of Finance for engaging with trade organisations and adopting a constructive approach on the issue. The trade leaders also reiterated their full support for the Digital India initiative and the unprecedented success of UPI. He said UPI had emerged as a successful and exemplary model of digital payments globally.

Khandelwal said the objective of the trade organisations was not to oppose digital payments, but to ensure that policies governing them remained balanced and inclusive and protected the interests of both consumers and traders. The delegation expressed confidence that continued dialogue between the government and trade organisations would help arrive at a practical and sustainable solution that would further strengthen India’s digital economy while protecting the interests of millions of traders and MSME enterprises across the country.

Khandelwal said the delegation included CAIT National President B.C. Bhartia; AICPDF President Dhiraysheel Patil; AIMRA Chairman Kailash Lakhyani; and Pankaj Arora, President of the All India Jewellers and Goldsmith Federation, among other prominent trade leaders representing various sectors.

Hindusthan Samachar / Jun Sarkar