Economy
Government Bars Bank Charges on UPI and RuPay Debit Card Payments Up to ₹2,000
The Hindu1h
THE BRIEF
1
India notified changes to the Payment and Settlement Act, 2007, barring banks from imposing direct or indirect charges on UPI and RuPay debit card transactions up to ₹2,000.
2
The gazette notification applies to both individuals making and receiving payments through these specified electronic modes.
3
An earlier provision preventing banks from charging fees on popular digital payments was altered, while a final decision on levies for larger transfers is still pending.