Proposed 0.40% MDR on UPI transactions raised with Union Finance Minister
Amritsar, September 30 (K.L. Jit Walia): A high-level delegation of trader leaders from across the country under the Confederation of All India Traders (CAIT) met Union Finance Minister Nirmala Sitharaman in New Delhi and raised several key issues concerning the trading community, including the proposed 0.40% Merchant Discount Rate (MDR) on UPI transactions.
The delegation was led by CAIT National General Secretary and Chandni Chowk MP Praveen Khandelwal, CAIT National President B.C. Bhartia and CAIT National Joint General Secretary Sumit Agarwal.
During the meeting, the delegation held a detailed discussion on the proposed 0.40% MDR on UPI transactions. The trader leaders appealed to the Finance Minister to defer implementation of the proposed arrangement for the time being, particularly in view of the festive season, and to allow additional time to inform and create awareness among traders about the proposed system. The delegation also placed several other suggestions before the Finance Minister regarding the matter.
On the occasion, CAIT Amritsar President Sandeep Khosla submitted a memorandum to Union Finance Minister Nirmala Sitharaman highlighting various problems being faced by traders and industrialists in Punjab. Through the memorandum, several important issues concerning Punjab’s trade and industry were brought to the attention of the Central Government.
Sandeep Khosla said CAIT has been continuously working to bring the problems of the trading community across the country before the government and seek solutions. He said that during the meeting with the Union Finance Minister, important issues related to Punjab’s trade and industry, along with UPI transactions, were discussed.
CAIT Amritsar expressed hope that the Central Government would consider the suggestions put forward by the trader leaders as well as their demands concerning the problems faced by Punjab’s trade and industry.
KL JIT WALIA
