Traders plan UPI boycott from October 15 over MDR charges; consumers express concern

Traders in Kottayam are planning a boycott of UPI transactions starting October 15 due to the central government's decision to impose a Merchant Discount Rate (MDR) charge. The proposed charge is 0.4 percent on UPI transactions exceeding ₹2,000. Traders argue this will create a heavy financial burden. Consumers are concerned about having to carry cash for purchases after the boycott.