The record
Written from the 1 report below. Nothing here is unsourced.
- Petrol pump dealers in Madhya Pradesh will restrict UPI transactions exceeding ₹2,000 starting October 15.
- The MP Petrol Pump Association decided to take this action because members do not want to pay a 0.4% merchant discount rate introduced by the central government.
- Dealers claim that these transaction fees will significantly reduce their fixed profit margins on fuel sales.
- This move aims to prevent further financial losses for fuel retailers across the state.
What to watch next
- Potential government intervention or negotiations regarding the merchant discount rate policy.
- Impact on fuel sales and consumer behavior in Madhya Pradesh after October 15.
Who said what1
Only words found exactly in the article are shown, attributed and linked to the line they came from.
Ajay Singh
president of the MP Petrol Pump Association
1 quote · 1 outlet
“Petroleum dealers across the state are opposing the central government’s new policy. A significant portion of fuel sales happens via UPI, and our fixed profit margins will be hit by this duty.”
In the article
…Association, which represents 4,700 dealers statewide. Dealers said they will accept only cash for payments above ₹2,000, refusing to bear the 0.4% MDR introduced by the Centre. Association president Ajay Singh said, “ Petroleum dealers across the state are opposing the central government’s new policy. A significant portion of fuel sales happens via UPI, and our fixed profit margins will be hit by this duty. ” Deep Dive Powered ByAsk HT In a written statement, the association said that dealers were already paying MDR on credit card transactions. “Now, imposing this duty on UPI will only create further financial loss for…
Related reporting
Grouped by subject or cast while the story boundary is under human review. No chronology is implied.
Loading the story…
Coverage1
All filed from India
Named India · Madhya Pradesh · Ajay Singh · MP Petrol Pump Association
The 1 report is listed beside the record.
Ask this story
Answers cite the reports above, or say they can't.