Good news for customers! Private lenders waive off charges on UPI-based transactions
If you have been making payments through UPI, your transactions are set to get cheaper. Private banks have decided to waive off charges on Unified Payments Interface (UPI)-based transactions after the Central Board of Direct Taxes (CBDT) asked banks to refund the fee collected from customers and merchants for UPI transactions from January onwards.
The CBDT had also asked banks not to charge customers for other electronic payments powered by RuPay and QR code-based payments using UPI QR and BHIM UPI QR. Source - PTI.