Etawah Traders Protest Proposed UPI Transaction Fees, Submit Memorandum to PM

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Traders Oppose UPI Transaction Fees

Traders in Etawah have initiated a protest against the proposed 0.04% transaction fee on UPI (Unified Payments Interface) transactions exceeding Rs 2,000, scheduled to take effect from October 15. Under the banner of the Industry Trade Representative Council, local traders gathered and submitted a memorandum to the Prime Minister through the District Magistrate, demanding the immediate rollback of this fee.

Memorandum Highlights Concerns

A delegation of traders, jointly led by Provincial Senior Vice President Sarvesh Singh Chauhan, District President Alok Dixit, and District Vice President Manoj Kumar Katheria, expressed concerns in the memorandum. They stated that the proposed additional fee would adversely impact business activities and could potentially fuel a slowdown in the market. They emphasized that traders are already paying various taxes, and imposing fees on digital payments would further strain their financial situation.

Digital India Initiative and Its Implications

Organization officials highlighted that in adherence to the Prime Minister's call for 'Digital India' and a 'cashless economy,' small and large traders across the country have enthusiastically adopted digital payment systems. From small shopkeepers to large businesses, transactions are now increasingly being conducted through digital channels. In this context, levying fees on digital transactions is seen as imposing an unnecessary financial burden on traders.

Return to Cash if Fees Implemented

Traders warned that if this fee is implemented, instead of promoting digital transactions, traders and customers might revert to cash-based transactions. They expressed apprehension that this would directly harm the country's digital economy and negatively impact the government's overall revenue. Therefore, they urged the government to ensure that digital transactions remain entirely free and secure.

Widespread Participation in Protest

A large number of local traders, including Haji Sheikh Aftab, Ashok Jatav, Riyaz Abbasi, Sonu Agarwal, Rahul Dixit, and Dev Gupta, were present at the protest. They unanimously reiterated their demand for the withdrawal of the fee.