UPI charges

06 Aug

Lok Sabha Passes Bill Amending Payment Systems Act to Allow Service Charges on Digital Transactions

Gurpreet Singh0 CommentsIndiaLok Sabha, MDR levy, Nirmala Sitharaman, Payment Systems Act, UPI charges

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,…

01 Oct

RBI Rules Out UPI Transaction Fees, Projects 6.8% Growth for FY25

Rajeev Sharma0 CommentsBusiness, IndiaRBI, Sanjay Malhotra, UPI charges, UPI transaction fees

New Delhi, October 1, 2025: Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday dismissed speculation that citizens may be charged for using Unified Payments Interface (UPI), assuring that no such proposal is under consideration. His clarification comes amid widespread concerns over possible fees on the digital payment system that has become a backbone of everyday transactions.Malhotra expressed confidence in India’s economic prospects, highlighting that the nation continues on a “very high growth trajectory” while managing price stability. The RBI has projected India’s growth at 6.8% for the current fiscal year, reinforcing its position as one of the world’s…