The record
Written from the 1 report below. Nothing here is unsourced.
- A petition has been filed in the Supreme Court seeking cancellation of the government's decision to charge a 0.4% fee on UPI transactions above ₹2,000 from October 15.
- UPI transactions up to ₹2,000 remain free of charge, while amounts above ₹2,000 attract a 0.4% fee capped at ₹300 for transactions exceeding ₹75,000.
- The petition argues the fee violates Articles 14 and 19(1)(g) of the Constitution and was introduced through a press notification without transparent data or legal rules.
- Merchants may pass the fee on to customers through higher prices, adding a financial burden on small businesses.
- The case matters because the Supreme Court's decision will decide whether India's most used payment system starts costing money for everyday larger purchases.
What to watch next
- Whether the Supreme Court agrees to hear the petition before the October 15 rollout date
- Whether the court orders an independent review of the fee through the RBI as the petition requests
Coverage1
1 report
Indian-language1
All filed from India
Named India · Unified Payments Interface · Reserve Bank of India · Supreme Court
The 1 report is listed beside the record.
Ask this story
Answers cite the reports above, or say they can't.