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By Reuters

India on ​Monday notified changes ‌in the Payment And ​Settlement ⁠Act. | Photo Credit: Gerra Madhusudan 10751@Chennai

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 ($20.93).

A government gazette ​notification ‌specified RuPay-powered debit cards and UPI transactions of ‌up to ​₹2,000 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.

Published on September 14, 2026

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