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Coin Press - India prohibits bank fees on UPI payments up to ₹2,000

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India prohibits bank fees on UPI payments up to ₹2,000
India prohibits bank fees on UPI payments up to ₹2,000

India prohibits bank fees on UPI payments up to ₹2,000

ECONOMY 15.09.2026

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.

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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.

Ch.Lefebvre--CPN

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