UPI MDR Rules: What the Government’s ₹2,000 Payment Notification Means
The Centre has formally clarified the rules around charges on digital payments, saying UPI transactions of up to ₹2,000 and payments made through RuPay-powered debit cards cannot attract direct or indirect charges from banks or system providers.
The Finance Ministry’s Department of Financial Services issued the notification on September 14 under Section 10A of the Payment and Settlement Systems Act, 2007. The notification specifically lists RuPay debit cards and UPI transactions up to ₹2,000 as electronic payment modes on which charges cannot be imposed on the person making or receiving the payment.
For most people, this means everyday UPI payments remain unchanged. Paying ₹500 at a neighbourhood shop, transferring ₹1,500 to a friend or making another UPI payment within the ₹2,000 limit will continue without a payment-system charge. The notification also protects both sides of the transaction, meaning banks and system providers cannot impose the charge on either the payer...
Copyright of this story solely belongs to www.ciol.com. To see the full text click HERE
