UPI payments up to ₹2,000 will remain free
India has notified rules barring banks and payment-system providers from charging for UPI transactions up to ₹2,000 or payments made with RuPay-powered debit cards. The government has not decided whether merchant discount rates may apply to higher-value UPI payments, according to reports from five Indian business and national outlets.
Why it matters
The rules preserve free small-value digital payments while leaving the economics of larger transactions unresolved.
Sources
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Part of the September 15, 2026 brief.