Srinagar, May 10: Suheldev Bharatiya Samaj Party (SBSP) State President, Jammu & Kashmir, Vivek Bali has urged the Central Government to reconsider the proposed decision to levy Merchant Discount Rate (MDR) on UPI transactions.
In a statement issued today, Bali said that UPI has become the backbone of India’s digital economy and has empowered small vendors, shopkeepers, students, and common citizens. Any imposition of charges on UPI will directly burden the poor and small traders, he added.
“UPI was made popular because it was free, fast and secure. From a roadside tea stall to a big showroom, everyone today accepts UPI. If MDR is imposed, small merchants will be discouraged from using digital payments and it will push the country back towards cash transactions,” Bali said.
He said that Prime Minister Narendra Modi’s vision of a Digital India has been strengthened by UPI, and the government should take steps to further promote it rather than imposing additional charges.
The SBSP leader said that instead of charging merchants, the government should provide more incentives to small traders who promote digital payments and strengthen the banking infrastructure in rural areas.
He requested Union Finance Minister Nirmala Sitharaman and the Reserve Bank of India to intervene in the matter and ensure that UPI remains free for both customers and small merchants in the larger public interest.
Bali also appealed to traders’ organizations and youth to raise their voice against any move that weakens India’s digital payment revolution.
