What will happen to payments of over ₹2,000 as govt issues rules for those under ₹2,000?

Finance Ministry has banned banks from charging any fees on payments worth under ₹2,000 made via UPI or RuPay debit cards. The government has said that all person-to-person UPI transfers, even those above ₹2,000, will remain free. Meanwhile, person-to-merchant transactions, which include payments made to businesses, remain free for now but could attract a Merchant Discount Rate later.

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