AIMRA, AICPDF cancel October 2 ‘No UPI Day’ protest after meeting Sitharaman
AIMRA and AICPDF cancelled the October 2 “No UPI Day” protest after meeting finance minister Nirmala Sitharaman. They sought deferment of the proposed 0.4% UPI MDR, merchant-to-merchant exemptions and an increase in the monthly merchant exemption limit from ₹1 Lakh to ₹5 Lakh.
Read the source at Inc42Channel facts
| UPI MDR effective date: | October 15 |
|---|---|
| P2M transaction threshold: | above ₹2,000 |
What it means for online and offline
The protest cancellation eases near-term retail disruption risk but does not resolve potential merchant margin pressure from the proposed UPI fee.
Signals to track
- Official confirmation, deferral or rejection of the proposed October 15 rollout
- Published terms for the proposed 0.4% charge on customer-to-merchant payments above ₹2,000
- An explicit merchant-to-merchant exemption
- A notification raising the monthly merchant exemption from ₹1 lakh to ₹5 lakh
- A renewed protest announcement from AIMRA or AICPDF
The counter-case
Cancelling a protest is not a fee rollback or a material improvement in omni-channel economics. The signal establishes that trader groups sought concessions, not that the government granted them. Without a verified policy change, any benefit to merchant margins, UPI acceptance or sales remains speculative.