Before UPI came, I was using bank's bill pay service to pay bills and credit card to pay purchase bills. However, we are now so used of UPI that it is hard to get away with it. Let us demand for relaxations if possible ________________________________ From: [email protected] <[email protected]> on behalf of BHAWANI SHANKAR VERMA <[email protected]> Sent: Friday, August 7, 2026 8:19 AM To: [email protected] <[email protected]> Subject: [AI] UPI TRANSACTIONS WILL SHORTLY BECOME CHARGEBLE
Dear group, Unified Payments Interface (UPI) transactions will shortly become chargeable pursuant to the recent amendment to the Payment and Settlement Systems Act, 2007. By virtue of this amendment, Parliament has conferred authority upon banks and other financial institutions to levy a nominal fee on UPI transactions. The rationale underlying this legislative change is to ensure the sustainable maintenance and operation of UPI infrastructure by banks and payment service providers. At present, Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) transactions fall within the category of chargeable payment services, whereas UPI transactions had hitherto been exempted. The amendment seeks to harmonize the regulatory framework by bringing UPI transactions within the ambit of chargeable services, thereby aligning them with other established modes of electronic fund transfer. this is for information only, Bhawani -- Disclaimer: 1. Contents of the mails, factual, or otherwise, reflect the thinking of the person sending the mail and AI in no way relates itself to its veracity; 2. AI cannot be held liable for any commission/omission based on the mails sent through this mailing list.. Search for old postings at: http://www.mail-archive.com/[email protected]/ --- You received this message because you are subscribed to the Google Groups "AccessIndia" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion visit https://groups.google.com/a/accessindia.org.in/d/msgid/accessindia/281fd0d6-94f2-4837-a5fa-62e4f03b5af2%40gmail.com. -- Disclaimer: 1. Contents of the mails, factual, or otherwise, reflect the thinking of the person sending the mail and AI in no way relates itself to its veracity; 2. AI cannot be held liable for any commission/omission based on the mails sent through this mailing list.. Search for old postings at: http://www.mail-archive.com/[email protected]/ --- You received this message because you are subscribed to the Google Groups "AccessIndia" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion visit https://groups.google.com/a/accessindia.org.in/d/msgid/accessindia/SE1P216MB253637E89BBC1D7DDD1076FEFAD12%40SE1P216MB2536.KORP216.PROD.OUTLOOK.COM.
