Bhubaneswar, September 18: Amid the ongoing debate over UPI transactions, Biju Janata Dal (BJD) president and Leader of Opposition (LoP) Naveen Patnaik on Friday said that the interests of the common people and small traders should be protected.
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When asked for his reaction to the UPI issue upon his arrival at Bhubaneswar airport, the former Chief Minister told media persons that, "The shopkeepers interests should be protected."
Patnaik’s remarks come amid demands to withdraw the fee from small retailers, petroleum dealers and brokers, who argued that their margins would be affected.
Traders say that the imposition of the Government’s new levy Merchant Discount Rate on UPI payments will inevitably force them to relay the burden of this tax to the ordinary consumer.
The issue has drawn attention particularly over its possible impact on small merchants that increasingly depend on digital payments for everyday transactions.
Meanwhile, the Central Government said that the new UPI framework introduced has no impact on any person to person transactions. UPI will continue to remain completely free for all person-to-person transactions, irrespective of the amount transferred, it said.
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“Payments to merchants up to Rs 2,000, along with transactions covered under the zero-MDR framework for small merchants, will also remain free. Consequently, approximately 96% of all P2M transactions will remain unaffected. MDR will apply only to specified merchant transactions above Rs 2,000,” said Ministry of Finance said on Tuesday.
