NationalSunday, 13 September 2026·The Hindu - National
UPI and RuPay debit card payments up to ₹2,000 barred from charges under Payment and Settlement Systems Act amendment
A September 14 gazette notification barred charges on UPI and RuPay debit card payments up to ₹2,000, linked to an amendment in Section 10A of the 2007 Act.
Key highlights
Direct fact
On September 14, 2026, a gazette notification barred banks and payment system providers from levying charges on UPI transactions up to ₹2,000 and on RuPay debit card payments, under an amendment to Section 10A of the Payment and Settlement Systems Act, 2007.
Key specifics
- UPI and RuPay debit card payments up to ₹2,000 cannot attract direct or indirect charges.
- The legal basis is Section 10A of the Payment and Settlement Systems Act, 2007.
- UPI is operated by NPCI, an initiative of RBI and the Indian Banks’ Association.
- UPI was launched on August 25, 2016, and its transaction value rose from ₹0.07 lakh crore in FY17 to around ₹314 lakh crore in FY26.
- UPI is accepted in 11 countries, including Uzbekistan, Singapore, the UAE, France and Mauritius.
Exam lens
Polity and economy questions may ask about Section 10A, the 2007 Act, NPCI’s role, or UPI’s global acceptance in 11 countries; a typical TNPSC one-liner is the legal cap of ₹2,000 and the launch date August 25, 2016.