India, Sept. 19 -- Starting October 15, petrol pumps across Madhya Pradesh will stop accepting Unified Payments Interface (UPI) transactions above Rs.2,000, citing losses due to the newly imposed merchant discount rate (MDR).

The decision was taken unanimously at a meeting of the MP Petrol Pump Association, which represents 4,700 dealers statewide. Dealers said they will accept only cash for payments above Rs.2,000, refusing to bear the 0.4% MDR introduced by the Centre.

Association president Ajay Singh said, "Petroleum dealers across the state are opposing the central government's new policy. A significant portion of fuel sales happens via UPI, and our fixed profit margins will be hit by this duty."

In a written statement, the associa...