The Kerala Gold and Silver Merchants Association (KGSMA) has strongly opposed the proposal to implement Merchant Discount Rate (MDR) charges on UPI transactions after Diwali, demanding the complete withdrawal of the proposal rather than a mere postponement.
Quick Summary
- KGSMA has demanded the complete withdrawal of proposed UPI MDR charges instead of postponing their implementation until after Diwali.
- State President K. Surendran and State General Secretary Adv. S. Abdul Nazar described the proposed postponement as unacceptable.
- The association said additional UPI charges would burden traders and consumers.
- KGSMA organised statewide protest sit-ins on October 13 in front of Central Government offices across Kerala.
- Around 4,000 gold traders participated in the protests.
- KGSMA reiterated that its opposition would continue until the proposal was completely withdrawn.
KGSMA Demands Complete Withdrawal of UPI MDR Charges
The Kerala Gold and Silver Merchants Association (KGSMA) has strongly opposed the proposal to implement Merchant Discount Rate (MDR) charges on UPI transactions after Diwali, demanding the complete withdrawal of the proposal rather than a mere postponement.
KGSMA Leaders Reject Post-Diwali Implementation
KGSMA State President K. Surendran and State General Secretary Adv. S. Abdul Nazar said that postponing the implementation of UPI charges until after Diwali was unacceptable. They stressed that the proposal to impose additional charges on UPI transactions must be withdrawn entirely.
Proposed UPI Charges May Burden Traders and Consumers
At a time when digital payments are being actively promoted, imposing additional charges on UPI transactions would create a financial burden for both traders and consumers, they said. Small and medium-sized businesses, in particular, would face additional operating costs, while consumers who depend on digital payments would also be adversely affected.
Around 4,000 Gold Traders Participate in Kerala Protests
Protesting against the proposed MDR charges, KGSMA organised statewide protest sit-ins on October 13 in front of Central Government offices across various districts of Kerala. Around 4,000 gold traders participated in the protests held across the state.
KGSMA Urges Authorities to Abandon the Proposal
The association urged the authorities concerned to consider the genuine concerns of the trading community and abandon the proposal to impose MDR charges on UPI transactions.
Association Reiterates Opposition Until Complete Withdrawal
The KGSMA leaders reiterated that the association would continue its strong opposition until the proposal was completely withdrawn, adding that a promise to defer implementation until after Diwali was not an acceptable solution.
FAQs
What is KGSMA demanding regarding UPI MDR charges?
KGSMA is demanding the complete withdrawal of the proposal to impose Merchant Discount Rate (MDR) charges on UPI transactions rather than postponing implementation until after Diwali.
Who are the KGSMA leaders opposing the proposed UPI charges?
KGSMA State President K. Surendran and State General Secretary Adv. S. Abdul Nazar have opposed the proposed charges.
Why is KGSMA opposing UPI MDR charges?
KGSMA believes that additional charges on UPI transactions would increase operating costs for small and medium-sized businesses and create a financial burden for consumers.
When did KGSMA organise protests against the proposed MDR charges?
KGSMA organised statewide protest sit-ins on October 13 in front of Central Government offices across various districts of Kerala.
How many gold traders participated in the protests?
Around 4,000 gold traders participated in the protests across Kerala.
Will KGSMA accept a postponement of UPI MDR charges until after Diwali?
No. KGSMA has stated that postponing the implementation until after Diwali is unacceptable and has reiterated its demand for complete withdrawal of the proposal.
Source: SVAR Media Network
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