Economy
Finance Ministry bars merchant fees on UPI up to Rs 2,000 and RuPay cards
The Indian Express43m
THE BRIEF
1
The Ministry of Finance notified that banks and system providers cannot levy charges on UPI transactions up to Rs 2,000 and RuPay debit card payments.
2
In 2025-26, more than 24,000 crore UPI transactions worth Rs 314 lakh crore were recorded, with transactions over Rs 2,000 accounting for only 4% of volume but roughly two-thirds of total value.
3
The government has subsidised small-value transactions through an incentive scheme, with the 2026-27 Budget estimating subsidy payouts at Rs 2,000 crore for the current fiscal.