28 Trader Bodies Back October 2 ‘No UPI Day’ Protest Against Proposed MDR Charge; More Associations Likely To Join
Mumbai: At least 28 trader and business associations have been listed by the Federation of Retail Traders Welfare Association (FRTWA) as supporting the October 2 protest, with the organisation saying more associations are expected to join. MACCIA Also Supports Campaign Separately, Maharashtra Chamber of Commerce, Industry and Agriculture (MACCIA) said the chamber and its 500 affiliate…
At least 28 trader and business associations have backed the October 2 'No UPI Day' protest against the proposed Merchant Discount Rate (MDR)/transaction charge, with more anticipated to join. The Maharashtra Chamber of Commerce and Industry (MACCIA) and its 500 affiliate associations have also pledged support for the campaign. These associations, representing various sectors including retailers, distributors, manufacturers, and small businesses, are urging the withdrawal of the proposed 0.04% MDR, arguing that even a minor levy would exacerbate the financial strain on businesses operating with slim margins.
FRTWA president Viren Shah informed Union Finance Minister Nirmala Sitharaman that traders are already grappling with high rental costs, salaries, electricity expenses, taxes, compliance fees, logistics expenses, and intense competition from online platforms. The protest, planned for Gandhi Jayanti, aims to be a peaceful and democratic collective representation.
The FRTWA emphasizes that the petition should not be viewed as representing the views of every trader organization, as the Confederation of All India Traders (CAIT) has not officially endorsed the nationwide 'No UPI Day' movement.
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