Banks can't charge for UPI, RuPay debit card payments up to ₹2,000: Govt

The government has barred banks from charging fees on UPI transactions up to ₹2,000 or payments made through RuPay debit cards. The government notification also prohibits direct or indirect charges on people making or receiving payments through these modes. However, it does not clarify charges on higher-value UPI transactions, potentially allowing merchant discount rate (MDR) to be introduced.