{
  "id": 7962125,
  "title": "‘Don’t be surprised to see ‘cash only’ boards’: Market yard traders on new UPI charge",
  "url": "https://urgent.news/2026/09/17/dont-be-surprised-to-see-cash-only-boards-market-yard-traders-on-new",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-17T05:40:34.000Z",
  "source": {
    "name": "The Indian Express",
    "slug": "the-indian-express",
    "url": "https://indianexpress.com/article/cities/pune/market-yard-traders-upi-charge-cash-only-boards-10881632/"
  },
  "original_language": "en",
  "account": "Traders at Pune’s Market Yard have expressed their opposition to the Centre’s decision to impose a 0.4% charge on UPI transactions exceeding Rs 2,000, stating that it could raise their expenses and potentially drive businesses back to cash payments. The Centre announced the levy on Tuesday as part of a new system for large digital merchant transactions, effectively ending the zero-Merchant Discount Rate (MDR) era. Under the new system, the charge will be capped at Rs 300 for transactions of Rs 75,000 and above. Traders at the Market Yard noted that the change would be particularly burdensome for wholesale businesses, where individual UPI payments often exceed the Rs 2,000 threshold. Trader Suyog Zende highlighted that over 80% of transactions at Pune’s Market Yard are now conducted through UPI, and this levy would further strain the thin profit margins of small merchants already grappling with rising labour costs, unseasonal rains, and supply disruptions caused by geopolitical tensions. He urged the government to reconsider the decision. Fruit trader Yuvraj Kachi emphasized that the impact would be felt across small, medium-sized, and wholesale businesses, as many traders handle a significant volume of transactions above Rs 2,000. He explained that even a seemingly small 0.4% charge on individual transactions could accumulate into a substantial expense over time. Kachi warned that businesses might respond by passing the additional cost onto consumers or adjusting their purchasing price from farmers, potentially leading to a resurgence in cash transactions. He expressed hope that the government would reconsider the levy and explore alternative revenue-generating methods instead.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}