Brief by Shorts91 Newsdesk / 05:01am on 15 Sep 2026,Tuesday India
The government has prohibited banks and payment system providers from imposing direct or indirect charges on UPI transactions of up to Rs 2,000 and payments made using RuPay-powered debit cards. A Finance Ministry notification specified both as electronic payment modes covered by the ban. The move leaves scope for a possible fee framework for higher-value merchant transactions. Under the notification, no bank or system provider can charge a person making or receiving a payment through the specified modes. The decision comes amid debate over introducing Merchant Discount Rate charges for larger transactions. The government’s move ensures payments through UPI up to Rs 2,000 and RuPay debit cards remain free from charges imposed by banks or payment system providers. (PC: Reuters)
