UPI MDR deferral reflects govt's sensitivity to traders' concerns: Delhi market bodies
New Delhi, Oct 14
The Centre's decision to extend the deadline for implementing Merchant Discount Rate on UPI transactions beyond October 15 has brought relief to traders ahead of the festive season, with several Delhi-based market associations welcoming the move and urging the government to permanently scrap the proposed levy.
The extension comes amid concerns among merchants that imposing MDR on UPI payments could increase the cost of doing business at a time when markets witness heightened customer activity and a surge in digital transactions ahead of Diwali.
Speaking to IANS, Rajiv Agarwal, Treasurer of the Chandni Chowk Traders Council, termed the decision a positive step and said traders appreciate the government's approach towards their concerns.
''This decision is very good. Our Prime Minister, Narendra Modi, has been working in the interest of traders since day one. And the decision taken to implement MDR, even that was not making much of a difference to the businessmen, nor was it affecting the buyer at all. Businessmen welcomed it back then, and now businessmen are welcoming its deferment as well,' he said.
Echoing similar views, Paramjeet Singh, President of the Pamma Sadar Bazaar Bari Market Traders Association, said trader bodies had raised objections to the proposal and urged the government to reconsider it.
''This is absolutely the right decision, and we welcome it. We had also staged a protest on this issue and urged the government to take this step. Most importantly, traders could have faced considerable difficulties due to this arrangement during the festive season,'' he told IANS.
Rajkumar Bhardwaj, General Secretary of the Delhi Saree Mercantile Association, said the government's decision is beneficial for both traders and customers.
''This decision of the government is very good, both for traders and for customers. Because somewhere, if a trader incurs a loss or if their costs increase due to MDR, they will eventually add that to the pricing, and its direct impact will fall on the customer,'' he told IANS.
Shopkeepers also expressed satisfaction with the move. A trader in Delhi's Lajpat Nagar said the continuation of charge-free UPI transactions has encouraged customers to make digital payments without hesitation.
— IANS
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