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India prohibits bank fees on UPI payments up to ₹2,000
India notified changes to the Payment and Settlement Act on September 14 barring bank charges on Unified Payments Interface transactions of up to ₹2,000, equivalent to $20.93 in the source report.
India notified changes to the Payment and Settlement Act on September 14 barring bank charges on Unified Payments Interface transactions of up to ₹2,000, equivalent to $20.93 in the source report.
A government gazette notification designated those UPI transactions and RuPay debit-card payments as electronic payment modes. It said neither a bank nor a system provider could levy a direct or indirect charge on anyone sending or receiving payments through the specified modes.
S.Jackson--AT