LatestIncome Tax 8 August 2026
UPI Transaction Fees Ahead
The Lok Sabha has passed a bill allowing the government to permit banks to levy charges on UPI transactions, this move is expected to have significant implications for the banking and finance sector in India, with potential changes to the way people use digital payment systems, the bill aims to amend the Payment and Settlement Systems Act to give the government more power to regulate digital payments
The Lok Sabha has passed a bill to amend the Payment and Settlement Systems Act, allowing the government to permit banks to levy charges on UPI transactions.
* The bill gives the government more power to regulate digital payments,
* this move is expected to have significant implications for the banking and finance sector in India.
The bill is expected to bring changes to the way people use digital payment systems, with banks likely to start charging for UPI transactions,
the exact charges and implementation details are yet to be announced.
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