Ministry of Finance specifies the electronic modes of payment under the Payment and Settlement Systems Act; banks or system providers must not impose any charge upon persons making or receiving payments through the specified modes

The Ministry of Finance has issued a notification, specifying the following electronic modes of payment under the Payment and Settlement Systems Act, 2007:

1. Debit Card powered by RuPay; and
2. Unified Payments Interface (UPI) transactions upto Rs. 2,000.

Additionally, a bank or system provider must not impose, whether directly or indirectly, any charge upon a person who is making or receiving a payment by using the aforesaid mentioned electronic modes of payment.

Source: Ministry of Finance