Vadodara: Mixed response to traders' NO UPI announcement against MDR fees

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The Vadodara Trade Development Association and its affiliated trade associations today observed NO UPI Day to protest against the 0.4 per cent merchant discount rate (MDR) imposed from October 15 on UPI payments of Rs 2,000. Today, merchants' announcement not to accept money from UPI and accept only cash or cheque received mixed reactions.

Leaders of Vadodara Trade Development Association also staged demonstrations at Raopura today. Paresh Parikh, president of the Vyapar Vikas Association, said that in addition to the payment of Rs 2,000, the fee of 0.40 per cent will put small traders in trouble. This fee is not acceptable to traders doing business with low margins. It was claimed that traders from various markets, including members of Baroda Grain Merchant Association of Mangalbazar, New Bazar, Hathikhana, had joined the announcement. These traders had covered a black screen on the UPI scanner in their shop. On the other hand, UPI payments continued at malls and big showrooms in the city. Thus, the announcement of the traders received mixed response.

The traders demanded that the government should give Diwali gifts to the traders by increasing the limit of Rs 2000 to Rs 15,000 or Rs 25,000. On this Diwali, our reasonable demand should be accepted. When the digital payment revolution has taken place in the country through UPI, the government should encourage more and more people to make these digital payments. If the demand is not accepted by October 15, there will be a situation in the market that cash transactions will increase and the traders will pass on the financial burden on them to the customers. Thus, the government will have to pay higher prices for goods to the citizens in tax revenue.

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