Story perspectives

AIMRA Urges UPI Payment Halt on Oct 2

By Drooid · Sep 28, 2026, 11:58 AM UTC · How we work

Summary

Story summary

All India Mobile Retailers Association (AIMRA) urges shops to stop UPI payments on October 2, 2026.
The protest opposes a 0.4% MDR on UPI payments above INR2,000.
AIMRA warns small retailers could face INR2,000-INR12,000 extra monthly, about INR40 crore nationwide.
Finance Minister Nirmala Sitharaman says merchants, not consumers, will bear the charge; banks must stop shifting it.
A Supreme Court hearing will review the MDR challenge as the October 2 protest tests support.

History

Historical Context

April 2016 saw NPCI launch the Unified Payments Interface, which grew to 25.5 billion transactions in 2020, making India’s real-time payment system the world’s largest. The 2026 law imposing a 0.4% merchant-discount rate on UPI payments above INR2,000 has been contested by the All India Mobile Retailers Association in the Supreme Court, a challenge that could draw Finance Minister Nirmala Sitharaman into regulatory reform.

1 of 2

Story summary

All India Mobile Retailers Association (AIMRA) urges shops to stop UPI payments on October 2, 2026.
The protest opposes a 0.4% MDR on UPI payments above INR2,000.
AIMRA warns small retailers could face INR2,000-INR12,000 extra monthly, about INR40 crore nationwide.
Finance Minister Nirmala Sitharaman says merchants, not consumers, will bear the charge; banks must stop shifting it.
A Supreme Court hearing will review the MDR challenge as the October 2 protest tests support.

1 / 2