New Delhi. No charges will be levied on transactions up to Rs 2000 through UPI and Rupay debit cards. After a law in this regard was made by the Parliament, it has been implemented by the Central Government. In the notification issued by the Centre, it has been said that banks or service providers will not be able to charge any charges for transactions up to Rs 2000 through UPI and payment through RuPay debit card. This charge cannot be imposed by banks nor can it be imposed in any other way. It has not been mentioned in the notification whether charge will be taken on transactions of more than Rs 2000 or not. Also the rate of charge is not mentioned.
This notification has been issued under Section 10A of the Payment and Settlement Systems Act. It is clearly written in it that it is prohibited to take any kind of charge from the person giving the money and receiving it. Neither the customer will pay charge on this amount nor any charge will be taken from the shopkeeper. Shopkeepers doing small business will benefit from this. Because they have low value payment through UPI or Rupay debit card. Earlier, while presenting a bill to amend the law in the Parliament, the government had said that no charge will be paid even if UPI transactions of more than Rs 2000 are done with friends, relatives etc. However, nothing has been said about this in the notification.
After the release of the notification, now the rate of charge on more than 2000 UPI transactions will be decided by the National Payments Corporation of India (NPCI). This charge will compensate for the expenses incurred on the development of UPI and the security of transactions taking place through it. UPI now works not only in India but in all the countries of the world. Various types of online security measures are implemented to protect its users from any fraudulent payment. Let us tell you that in the financial year 2025-26, transactions worth more than Rs 24 thousand crores took place through UPI. Which was Rs 314 lakh crore.
