New Delhi, Sept. 29 -- The Supreme Court on Monday sought an affidavit from the Union government explaining the legal and operational basis for allowing charges on specified person-to-merchant (P2M) Unified Payments Interface (UPI) transactions above Rs 2,000, while declining to stay the proposed framework.

A bench comprising Chief Justice of India (CJI) Surya Kant and Justices Joymalya Bagchi and V Mohana was hearing a writ petition challenging notifications issued by the Finance Ministry on September 14 and 15. The court also issued notice to the Reserve Bank of India (RBI), National Payments Corporation of India (NPCI) and other respondents.

Court Seeks Clarity On Legal Basis

Additional Solicitor General (ASG) N Venkataraman, appear...