Centre Notifies Zero Charges On UPI Payments Up To Rs 2,000 And RuPay Debit Cards
The central government has formally notified a change under the Payment and Settlement Systems Act, barring banks and payment system providers from imposing direct or indirect charges on Unified Payments Interface (UPI) transactions up to 2,000 rupees. The decision ensures no fee, levy, or additional charge applies to making or receiving payments within this limit. The government has also prohibited charges on RuPay debit card payments and kept person-to-person UPI transfers free. While individual transactions remain exempt from extra costs, merchant discount rates may apply to large entities with high turnover for transactions exceeding 2,000 rupees.
