India bars banks and payment system providers from levying charges on certain digital transactions, including UPI payments and RuPay-powered debit card payments up to ₹2,000. The restriction is set out in a government gazette notification that states no direct or indirect charge can be imposed on a person making or receiving such payments.
The notification specifies that the change applies to UPI transactions of up to ₹2,000 and to payments made using RuPay-powered debit cards. Both outlets describe the measure as coming through a change to the Payment and Settlement Act, 2007, through a government notification. The coverage focuses on the legal basis and the transaction value threshold, rather than on operational details for how banks will update pricing or compliance systems.
Overall, the reporting agrees on the core elements: the prohibition on additional charges, the covered payment rails (UPI and RuPay debit cards), and the cap of ₹2,000 per transaction.
