Shillong , September 15: The Central government has prohibited banks and payment-system providers from imposing charges on RuPay debit card payments and Unified Payments Interface (UPI) transactions of up to ₹2,000.
The Ministry of Finance’s Department of Financial Services issued a notification to this effect on September 14, exercising its powers under Section 10A of the Payment and Settlement Systems Act, 2007.
According to the notification, no bank or payment-system provider can directly or indirectly levy a charge on any person making or receiving payments through RuPay-powered debit cards.
The prohibition also applies to UPI transactions valued at up to ₹2,000.
