Government may allow fees on UPI payment above Rs 2k

The government may allow a small charge on UPI payments exceeding two thousand rupees. This levy would apply to transactions made to businesses and not individuals. Official estimates suggest this change will impact only five percent of all UPI transactions. Most daily purchases like groceries and taxi fares will remain unaffected by this potential fee. Industry experts anticipate a possible ceiling on the absolute amount charged for these transactions.

By TNN

Big change in UPI policy? Payments above ₹2,000 may carry a fee. What we know

The bill seeks to remove the provision that prevents banks and payment service providers from charging a fee, including MDR, on notified electronic payments.