06
Aug
New Delhi (Gurpreet Singh)— The Lok Sabha on Thursday passed the Taxation and Other Laws (Amendment) Bill, 2026, introducing crucial amendments to the Payment and Settlement Systems Act, 2007. The statutory change authorises the Union government to permit commercial banks and payment service providers to levy service charges, including Merchant Discount Rate (MDR), on digital payments executed via the Unified Payments Interface (UPI) and other notified electronic payment methods. Moved by Finance Minister Nirmala Sitharaman, the legislation was passed by voice vote following a brief adjournment. The amendment directly alters Section 10A of the Payment and Settlement Systems Act, 2007,…