Government Bans UPI Charges and RuPay Debit Card Fees Below Rs 2,000
The government forbids banks and system providers from charging fees on UPI transactions up to Rs 2,000 and RuPay debit card payments, effective after the 2026 Amendment to the Payment and Settlement Systems Act. Small‑value and peer‑to‑peer transfers remain exempt, while high‑value merchant deals may incur about a 0.4 % merchant discount rate. The rule supports UPI sustainability for broader financial inclusion.
Read the original article here: maktoobmedia.com
More Banking And Finance News
Enjoying TindPosting?
Get the app for a faster, personalized news experience.
