Representatives of the Nag Vidarbha Chamber of Commerce (NVCC) address a press conference
NVCC president Swapnil Ahirkar said the deferment would allow traders to conduct business during the festive season without the additional cost.
“If we are operating on a 1% margin but paying 2% in transaction fees, the business becomes unviable.
Rajesh Rokde, chairman of the Gems and Jewellery Council, said traders, particularly those in the bullion trade, had narrowly avoided a loss. “Since profit margins are already razor-thin, we simply would not have anything to spare if the charge had been levied,” he said. The volume of payments made via UPI, credit cards, debit cards and cheques had already risen. A sudden shift back could have caused those numbers to drop, which wouldn’t have been good for the economy. You Can Also Check: Gold Rate in Nagpur | Silver Rate in Nagpur | Bank Holidays in Nagpur | Public Holidays in Nagpur | Petrol Price in Nagpur | Diesel Price in Nagpur | CNG Price in Nagpur | LPG Price in Nagpur