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  1. Traders in Mumbai are concerned about a new MDR policy.

Retail Associations Protest New UPI Merchant Discount Rate Levy

5 reports, 3 independent Updated Mon 00:00
No new developments lately Reached 2 outlets in its first 24 hours
Reports
5
Developments
2
Repetition
60%

New informationRepeats or wire copies

AI-generated briefing. Brind wrote this from the reports listed below and has updated it as the story developed. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.

What happened

Well supportedReported by 3 independent outlets

Several business associations plan to observe a 'No UPI Day' on October 2 to protest a new Merchant Discount Rate (MDR) levy. The MDR, set at 0.4% for specific person-to-merchant transactions above Rs 2,000, is scheduled to begin on October 15. However, the Confederation of All India Traders (CAIT) clarified that it has not announced or endorsed a boycott of UPI payments.

From indiatimes.com, organiser.org, business-standard.com

Why it matters

Some supportBrind's analysis of the reports

The All India Consumer Products Distributors Federation (AICPDF) estimates that the new UPI MDR framework could impose an annual cost of Rs 7,000-9,000 crore on the FMCG retail and distribution ecosystem. This cost estimate factors in payments at both the consumer-to-retailer and retailer-to-distributor levels within the supply chain.

Traders in Mumbai are concerned about a new MDR policy.

From indiatimes.com

How it developed

Newest first. Tap a step to see who reported it.
  1. Quantified potential annual cost of new UPI MDR for distributors.1 source
  2. Business associations plan a 'No UPI Day' to protest the MDR levy.1 source

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Traders in Mumbai are concerned about a new MDR policy. All 1 developments

Coverage

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2 more outlets ran the same wire story