Traders withdraw October 2 'No UPI Day' after meeting Finance Minister Sitharaman

Traders had been angry over the MDR (merchant discount rate) levied on UPI transactions, and had chosen to agitate on October 2 for that reason. The 'No UPI Day' proposed for October 2, 2026 has now been withdrawn, following a meeting between a delegation of traders and Union Finance Minister Nirmala Sitharaman.

A delegation of about 20 senior trade leaders, led by Chandni Chowk MP and Confederation of All India Traders (CAIT) Secretary General Praveen Khandelwal, met the Finance Minister at Kartavya Bhawan in New Delhi. The meeting discussed traders' concerns over the proposed 0.40% MDR on UPI transactions above Rs 2,000. The withdrawal of the No UPI Day was also discussed at the meeting.

The delegation included several prominent trade leaders from different sectors. They included Dhairyasheel Patil, president of the All India Consumer Products Federation (AICPDF), Kailash Lakhiyani, president of the All India Mobile Retailers Association (AIMRA), and Pankaj Arora, president of the All India Jewellers and Goldsmiths Federation.

Khandelwal said that after the positive discussion with the Finance Minister, and on the assurance that traders' concerns would be addressed, AICPDF and AIMRA had decided to withdraw their opposition to the No UPI Day proposed for October 2. The organisations had earlier appealed to people not to use UPI on October 2.

The trade bodies raised the issue of the likely economic impact of the proposed MDR, with particular emphasis on small and medium businesses. They said digital payments should keep growing, but traders should not be burdened with additional costs. The traders made it clear that they are not against digital payments, and expressed their support for the Digital India Mission and the success of UPI.

The Finance Minister heard the delegation out and reiterated the government's commitment to promoting digital transactions while keeping the interests of all stakeholders in mind. The trade bodies hope that talks between the government and trade organisations will continue. They also hope that a framework will be created for UPI-related policies that strengthens the digital economy and protects the interests of traders and MSMEs.