Srinagar, Sep 17, Sept. 18 -- The Traders Association Central Lal Chowk has opposed the proposed Merchant Discount Rate (MDR) framework for specified UPI merchant transactions, warning that the additional cost could burden traders operating on thin margins and encourage some businesses to revert to cash payments. The association held an emergency executive meeting to discuss the framework, which is scheduled to take effect from October 15, 2026.Under the new framework announced by the National Payments Corporation of India, a 0.4 per cent MDR will apply to specified person-to-merchant UPI transactions above Rs.2,000, with the charge capped at Rs.300 for transactions of Rs.75,000 and above.Association president Feroz Ahmad Baba said the pr...