Tag: Payment and Settlement Systems Act 2007

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UPI at 10: India’s Digital Payments Revolution and the Road Ahead

Source: IESubject: Economy Context: As the Unified Payments Interface (UPI) completed 10 years of operation, Parliament passed the Taxation and Other Laws (Amendment) Bill, 2026. The Bill amends Section 10A of the Payment and Settlement Systems (PSS) Act, 2007, removing the statutory prohibition against levying a Merchant Discount Rate (MDR) on UPI and RuPay debit …

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UPSC Editorial Analysis: UPI Monetization

General Studies-3; Topic: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment.  Introduction The debate surrounding the sustainability of India’s digital payments system has resurfaced following proposed amendments to the Payment and Settlement Systems (PSS) Act, 2007. While the government has reiterated that Person-to-Person (P2P) transfers and micro-payments will remain free, …

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The Payment and Settlement Systems Act, 2007

Source: DD NewsSubject: Government Bill and Act Context: The Central Government clarified that everyday Person-to-Person (P2P) and general merchant UPI transactions will remain completely free for citizens. The statement follows public concerns over proposed amendments to Section 10A of the Payment and Settlement Systems Act (PSS Act), 2007, via the Taxation and Other Laws (Amendment) …

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