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Govt bars bank charges on UPI payments up to Rs 2,000 and RuPay debit card transactions

The Central government has barred banks and payment system providers from levying charges on Unified Payments Interface (UPI) transactions of up to Rs 2,000 and payments made through RuPay debit cards.The government on Monday (September 14) notified amendments to the Payment and Settlement Systems Act, 2007, specifying that banks cannot impose charges on UPI transactions of up to Rs 2,000.