Traders in Ghaziabad have started putting up notices outside their shops saying “UPI Payment Will Not Be Accepted” in protest against the proposed Merchant Discount Rate (MDR) on selected UPI transactions above Rs 2,000 from October 15. The notices have appeared at shops as traders voice concerns over the proposed 0.4 per cent charge. They say that although the government has said the MDR will be charged to merchants, the additional cost could eventually affect customers. Traders are advising customers to carry cash when making purchases from October 15, particularly for transactions above Rs 2,000. They argue that merchants may not be willing to absorb the additional cost and could instead ask customers to pay in cash for larger purchases. The proposed MDR has become a major point of discussion among traders and shopkeepers in Ghaziabad, with many opposing the move. The traders' notices are effectively a warning to customers that UPI may not be accepted for certain higher-...
US companies getting refunds after the Supreme Court struck down President Donald Trump's import tariffs are using the temporary windfall in a range of creative ways. The refunds are being used to cover rising costs, supplement employee retirement accounts and repay debt. Some are sharing the bounty with vendors. And a number of consumer companies are beefing up their assortment of lower-priced products and offering deals to attract budget-conscious shoppers pinched by the rising cost of living. Companies in the Russell 3000 Index mentioned tariff refunds almost 1,000 times in earnings calls and filings in July, August and September, according to a Bloomberg News analysis, almost four times more than in the previous earnings season. Consumer discretionary and staples companies accounted for more than a third of the references, disclosing the receipt of close to $9.8 billon in refunds during that period. Roughly $166 billion was paid in tariffs under the International Emergenc...