Days after getting elected, Federation of Jharkhand Chamber of Commerce and Industries president Tulasi Patel has written a letter to Union Finance Minister Nirmala Sitharaman, apprising her of the concerns of the trade and industry sectors after its implementation.

"The imposition of a 0.4 per cent MDR on UPI transactions above ₹2,000 could increase the operating costs of business establishments," Patel who was elected as president on September 13, said in the letter, according to a press statement issued by FJCCI on Thursday night.

The Centre has said that a 0.4 per cent fee would be imposed on transfers worth more than ₹2,000 made to merchants through UPI from October 15, while explicitly ring-fencing everyday person-to-person transactions as well as small payments from any charge.

Patel said the zero-MDR regime for merchants played a significant role in the widespread adoption and acceptance of UPI across the country.

The FJCCI in Jharkhand has urged the Centre to roll back the decision to impose Merchant Discount Rate charges on UPI transactions above ₹2,000, an official said on Friday.