India bars bank charges on UPI payments up to ₹2,000
BusinessLine 2 hrs ago·14 Sept 2026, 4:31 pm
The government has announced a significant policy shift by banning banks and payment system providers from levying any charges on UPI transactions and RuPay debit card payments valued at ₹2,000 or less. This move aims to make digital transactions more affordable for the common man, removing a small but recurring cost that often discouraged users from using these platforms for small-value purchases.
For investors, this policy is largely viewed as a positive step for financial inclusion and the broader digital economy. By lowering the cost of digital payments, the government is encouraging higher adoption rates, which could benefit the entire fintech ecosystem. However, the impact on individual banking stocks will depend on whether these banks can offset the lost fee income through other services or if the policy will eventually be extended to all transaction amounts.
Excerpt from BusinessLine
India on Monday notified changes in the Payment And Settlement Act, specifying that banks cannot impose charges on payments via Unified Payments Interface transactions of up to ₹2,000 ($20.93). A government gazette notification specified RuPay-powered debit cards and UPI transactions of up to ₹2,000 as…Read the original at BusinessLine
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