Retailers Against UPI, Startup IPO Sprint & More
Indian retailers plan a nationwide "No UPI Day" on October 2 against the new Merchant Discount Rate (MDR) on UPI payments, citing potential annual costs of ₹9,000 crore. The new MDR framework, effective October 15, ends the zero MDR regime established in 2020. The Supreme Court has refused to intervene but questioned the government's stance on the levy, seeking responses within four weeks.