Indian traders announce ‘No UPI Day’ to protest transaction fees

Traders across 17 Indian states, led by the Bharatiya Udyog Vyapar Mandal (BVY), have announced a series of protests against the imposition of Merchant Discount Rate (MDR) on Unified Payments Interface (UPI) transactions.

According to BVY National President Babulal Gupta, the government has implemented an MDR of 40 paise per hundred on UPI transactions. Additionally, a fixed MDR of Rs 5 per transaction will be applied to sectors including railway, telecom, insurance, fuel, and agricultural goods. Traders argue these fees impose an unfair financial burden as digital payment usage continues to rise.

The protest movement is scheduled in phases: starting October 2 with members wearing black bands, followed by nationwide demonstrations on October 10. The movement will culminate on October 15, which traders have designated as ‘No UPI Day’ to mark their opposition by refusing digital payments.