Government Bars Banks From Imposing Charges on UPI Payments Up to Rs 2,000
· Business · Economic Times
The Indian government has clarified that banks cannot impose charges on UPI payments of up to Rs 2,000. The directive aims to protect consumers and maintain the zero-fee structure for low-value digital transactions. Unified Payments Interface transactions have grown rapidly across retail and merchant segments in recent years. The policy ensures that everyday digital payments remain accessible and free of banking fees for retail users.
Why it matters
Everyday retail consumers and small merchants are shielded from hidden banking fees on small-value digital transactions, ensuring UPI payments up to Rs 2,000 remain completely free.
Read the original report — Economic Times
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