Economy
Mobile Retailers Announce 'No UPI Day' Protest Against MDR Charges
The Hindu1d
THE BRIEF
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Mobile phone retailers across India announced a nationwide 'No UPI Day' protest on October 2 by covering QR codes with black cloth and refusing UPI payments.
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The protest opposes the government's 0.4% Merchant Discount Rate on UPI transfers exceeding ₹2,000 for merchants, set to take effect from October 15.
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The All India Mobile Retailers Association estimated the levy will impose an unsustainable burden of nearly ₹500 crore annually on small retailers.