Srinagar, Sep 17, Sept. 17 -- The Traders Association Central Lal Chowk has expressed concern over the proposed Merchant Discount Rate (MDR) on certain UPI merchant transactions above Rs.2,000, saying the move could increase costs for small businesses and encourage a return to cash payments. The association convened an emergency executive meeting to discuss the new UPI framework, which is scheduled to come into effect from October 15, 2026. Under the 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, subject to a maximum charge of Rs.300 on transactions of Rs.75,000 and above. Feroz Ahmad Baba, president of the Traders Associatio...