The Economic Times

AIMRA announces nationwide 'No UPI Day' on October 2 to protest against proposed MDR for UPI transactions

AIMRA is organizing a 'No UPI Day' on October 2 to protest against the proposed Merchant Discount Rate. The proposed charges are anticipated to burden small businesses and reduce their profit margins significantly. Retailers argue that routine digital payments should remain free for micro and small enterprises. The association demands the reconsideration and withdrawal of the proposed 0.4% MDR.