India bars bank charges on UPI payments up to 2,000 rupees
14/09/2026 17:01
India bars bank charges on UPI payments up to 2,000 rupees Sept 14 (Reuters) - India on Monday notified changes in the Payment And Settlement Act, specifying that banks cannot impose charges on payments via Unified Payments Interface transactions of up to 2,000 Indian rupees ($20.93).
A government gazette notification specified RuPay-powered debit cards and UPI transactions of up to 2,000 Indian rupees as electronic modes of payment, and said no bank or system provider shall impose any direct or indirect charge on a person making or receiving payments through these modes.
($1 = 95.5500 Indian rupees)
(Reporting by Devika Nair in Bengaluru
Editing by Tomasz Janowski)
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