Traders' body CAIT denies 'No UPI day' call on October 2; says reports misleading

Traders body the Confederation of All India Traders CAIT on Saturday dismissed media reports of a nationwide No UPI Day on October 2 calling it misleading and falseCAIT refutes protest callThere have been reports circulating on social media suggesting that CAIT has called for a nationwide ldquoNo UPI Dayrdquo on 2nd October We want to clarify that these reports are completely misleading and false CAIT has not given any such call the trade body said in a social media post on XFAKE NEWS ALERT There have been reports circulating on social media suggesting that CAIT has called for a nationwide ldquoNo UPI Dayrdquo on 2nd October We want to clarify that these reports are completely misleading and false CAIT has not given any such call CAIT has consistently supported the growth of UPI and Indiarsquos digital payments revolution We remain committed to working with all stakeholders to strengthen Indiarsquos digital payment ecosystem and empower our traders in the digital age httpstco6I69SxQjnWmdash Confederation of All India Traders CAIT CAITIndia September 26 2026CAIT has consistently supported the growth of UPI and Indias digital payments revolution We remain committed to working with all stakeholders to strengthen Indiarsquos digital payment ecosystem and empower our traders in the digital age it addedAccording to certain media reports traders had called for a nationwide No UPI day on October 2 to protest against the introduction of Merchant Discount Rate MDR on UPI transactions above Rs 2000 from October 15CAIT categorically clarified that no decision resolution or official announcement has been made by the organisation regarding any No UPI Day observance on 2nd OctoberIt is pertinent to note that some trade organisations and regional bodies may have independently announced programmes or protests concerning the MDR issue CAIT stated in a statement according to news agency ANISuch initiatives are entirely their own decisions and must not be linked with or attributed to CAIT in any manner it addedCAIT said that it remains committed to safeguarding the interests of traders while simultaneously supporting the growth sustainability and security of Indias digital payments ecosystemMDR on UPIThe government had introduced 04 per cent charge on Unified Payments Interface UPI payments above Rs 2000 to merchants and capped the fee at Rs 300 for payments of Rs 75000 and above from October 15 thus ending nearly six years of fully free UPI paymentsThe government has clarified that transactions up to Rs 2000 continue to have zero MDR and therefore zero GST impactPersontoPerson transfers are always free regardless of amount Vendors earning up to Rs 1 lakh per month via UPI QR codes continue to enjoy zero charges Over 95 per cent of merchant payments are below Rs 2000 these remain free the Finance Ministry had said on September 16The government had pointed out that only merchant transactions above Rs 2000 would attract a nominal fee of 04 per cent which would be borne by merchants noting that it is far lower than credit card charges or other network chargesOn the introduction of MDR Retailers Association of India had said the extra burden might prompt smaller traders to shift to cashUPI transactionsWith presence in over 11 countries including Uzbekistan Singapore the United Arab Emirates France Mauritius Nepal Bhutan Qatar Sri Lanka Cambodia and Greece UPI has transformed Indias digital payments landscape In terms of transaction value it has soared from Rs 007 lakh crore in FY17 to around Rs 314 lakh crore in FY26 registering a more than 4000fold increase over the decadeWith inputs from ANI