From The Economic Times · PTI · · 50s
CAIT Denies No UPI Day Call
CAIT says reports of October 2 No-UPI Day are misleading.
In brief
CAIT says reports of October 2 No-UPI Day are misleading. CAIT denies calling for a nationwide No UPI Day on October 2, stating reports are factually incorrect and misleading. Originally reported by The Economic Times.
CAIT denies No-UPI Day reports
CAIT denies reports that it called for a nationwide No UPI Day on October 2.
“These reports are completely incorrect, misleading and do not reflect the official position of CAIT”
MDR levy details
From October 15, a 0.4 per cent merchant discount rate applies to person-to-merchant UPI payments above Rs 2,000.
Payment rules
Merchants pay the 0.4 per cent MDR, capped at Rs 300 for transactions over Rs 75,000.
No UPI Day clarification
CAIT says no trade organisations or regional bodies may link their MDR initiatives to CAIT.
Current MDR impact
Most person-to-person UPI payments and everyday merchant transactions remain free from the levy.
The bottom line
CAIT denies calling for a nationwide No UPI Day on October 2, stating reports are factually incorrect and misleading.
