Government bans extra fees on UPI payments up to ₹2,000

The Ministry of Finance issued a fresh notification under Section 10A of the Payment and Settlement Systems Act, 2007, prohibiting banks and payment service providers from levying any direct or indirect charges on UPI transactions that do not exceed two thousand rupees. The same rule extends to payments made using RuPay debit cards. The directive, released on Monday, mandates zero‑cost processing for consumers both sending and receiving money through these channels.