New Delhi, Sept. 14 -- The union Government on Monday prohibited banks and payment system providers from imposing any charge, directly or indirectly, on people making or receiving payments up to Rs 2,000 through RuPay-powered debit cards and Unified Payments Interface (UPI) transactions.
The Ministry of Finance's Department of Financial Services issued a notification to this effect, specifying the two electronic payment modes under Section 10A of the Payment and Settlement Systems Act, 2007.
According to notification S.O. 5067(E), the specified modes are RuPay-powered debit cards and UPI transactions up to Rs 2,000.
"No bank or system provider shall impose, whether directly or indirectly, any charge upon a person making or receiving a pa...