A government gazette notification specified RuPay-powered debit cards and UPI transactions of up to ₹2,000 as electronic modes of payment. File photo for representational purposes only.
| Photo Credit: Allen Egenuse J
India on Monday (September 14, 2026) notified changes in the Payment And Settlement Act, 2007, specifying that banks cannot impose charges on payments via Unified Payments Interface (UPI) transactions of up to ₹2,000.
A government gazette notification specified RuPay-powered debit cards and UPI transactions of up to ₹2,000 as electronic modes of payment.
It said no bank or system provider shall impose any direct or indirect charge on a person making or receiving payments through these modes.
The notification altered an earlier provision that prevented banks from charging fees on digital payments via India’s popular UPI, paving the way for charges to be imposed on larger transfers.
A final decision on whether to introduce charges, and how they would be levied, has yet to be taken.
Published – September 15, 2026 02:18 am IST
