Petroleum dealers are opposing a new Merchant Discount Rate (MDR) policy for fuel transactions over 2,000 rupees.
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M.Amarender Reddy
1 quote“protecting the thin regulated margins of dealers is necessary both for viability of the retail network and for continued high adoption of UPI at fuel stations”
In the article
…Dealers Association general secretary M.Amarender Reddy said on Wednesday. Appealing to the government for exemption of all petroleum retail outlets from any MDR, irrespective of the transaction value, he said “ protecting the thin regulated margins of dealers is necessary both for viability of the retail network and for continued high adoption of UPI at fuel stations ”. Even a flat ₹5 charge per transaction, above ₹2,000, will have a severe cumulative impact on the dealers as their margins are fixed per litre basis. With pump prices of petrol and diesel determined and controlled…
K. Suresh Kumar
1 quote“We may have to stop accepting UPI payments if the government proceeds as planned”
In the article
…Suresh Kumar, general secretary of the Consortium of Indian Petroleum Dealers, estimated the additional expenditure for high volume city and highway dealers, because of the MDR charge, to be ₹40,000-50,000 per month. “ We may have to stop accepting UPI payments if the government proceeds as planned ,” he said, adding OMCs are in discussions with the authorities. In a letter addressed to Union Finance Minister, Petroleum Minister, RBI Governor, the National Payments Corporation of India and OMCs, Mr.Reddy said fuel…
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Sources1
- [1]The Hindu — TelanganacriticalPetroleum dealers oppose MDR on fuel, seek exemption