India, Oct. 1 -- October 2 will not be observed as 'No UPI Day' as major retail and distribution organizations have now withdrawn their proposal for a protest against the imposition of the MDR on select transactions through the Unified Payments Interface (UPI).

The decision follows a meeting between a delegation from trade bodies and Union Finance Minister Nirmala Sitharaman, where objections were raised to the proposal. The proposed MDR would start from October 15, 2026, on selected transactions worth more than Rs.2,000, based on the PTI report. The charge would be borne by merchants rather than customers.

Why was 'No UPI Day' Announced?

The All India Mobile Retailers Association (AIMRA) and All India Consumer Products Distributors Fe...