The Confederation of All India Merchants (CAIT) mentioned it has taken severe observe of sure media stories and social media posts claiming that CAIT has introduced or endorsed a nationwide “No UPI Day” on October 2, associated to the proposed MDR levy on specified UPI transactions above Rs 2,000 from October 15.
It’s pertinent to notice that some commerce organisations and regional our bodies could have independently introduced programmes or protests regarding the MDR difficulty, CAIT said.
Such initiatives are totally their very own choices and should not be linked with or attributed to CAIT in any method, it added.
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“These stories are utterly incorrect, deceptive and don’t mirror the official place of CAIT,” the merchants’ physique mentioned.
From October 15, a 0.4 per cent service provider low cost price (MDR) will apply to person-to-merchant UPI funds above Rs 2,000.
The cost can be paid by retailers, not customers, and can be capped at Rs 300 for transactions of Rs 75,000 or extra. Funds between people, in addition to the overwhelming majority of on a regular basis service provider funds, will stay free.
