India, Sept. 15 -- UPI has become one of India's most widely used payment methods, allowing users to transfer money instantly through a smartphone. But recent changes have raised questions about whether people could eventually be charged for making higher-value UPI payments. The government's latest notification specifically protects UPI transactions of up to Rs 2,000 from charges imposed by banks or payment system providers. However, Rs 2,000 is not a new maximum limit for free UPI payments.

What Does The Rs 2,000 UPI Rule Mean?

A Finance Ministry notification dated September 14 identifies UPI transactions up to Rs 2,000, along with RuPay debit card payments, as electronic payment modes on which banks and payment system providers cannot...