NDTV·1 min read·medium
Lok Sabha Passes Bill To Allow Charges On UPI, Other Digital Payments
✦AI Summary
The Lok Sabha has passed a bill amending the Payment and Settlement Systems Act, 2007, which permits the government to authorize service charges on UPI transactions. Previously, UPI payments were exempt from the service fees typically applied to RTGS and NEFT transfers.
Real-time payments made through RTGS and NEFT are done by paying a service charge. However, UPI transactions have been exempted from such charges so far.
economytechnology
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