Traders’ bodies have called off the planned “No UPI Day” protest on October 2 after a delegation of around 20 trade representatives met Finance Minister Nirmala Sitharaman in New Delhi on Wednesday. The All India Consumer Products Distributors Federation (AICPDF) and the All India Mobile Retailers Association (AIMRA) announced the withdrawal after the meeting.

The delegation was led by CAIT secretary general and Chandni Chowk MP Praveen Khandelwal, along with AIMRA founder chairman Kailash Lakhyani. The protest had been announced against the proposed 0.4% merchant discount rate (MDR) on person-to-merchant UPI transactions above Rs 2,000, which is scheduled to take effect on October 15. Traders said the charge would squeeze thin-margin retailers ahead of the festive season.

The associations placed a set of demands before the minister: defer the MDR rollout past the festive season, start it at 0.20% in FY27 and raise it by 0.05 percentage points a year to 0.40%, lift the Rs 1 lakh monthly exemption threshold to Rs 5 lakh, keep merchant-to-merchant transactions out of the regime, and form an expert committee. Sitharaman gave the delegation a patient hearing and assured them their concerns would be duly considered, after which the protest call was withdrawn.