Government plans 0.4% plus ₹5 UPI fee above ₹2,000
Business
Starting October 15, paying more than ₹2,000 via UPI won't be completely free anymore. The government plans to add a 0.4% fee plus ₹5 per transaction.
But there's a twist: the Petrol Pump Dealers Association is asking for exemptions so their customers aren't hit with these charges.
The Department of Financial Services is likely to examine these requests.
Gas station exemptions under government review
Whether certain transactions (like at gas stations) get exempted will depend on the government's review.
So if you use UPI for bigger purchases, keep an eye out: some categories might escape the new fees altogether.