UPI charges: Lok Sabha passes bill for government to make changes

The Lok Sabha has taken a vital step by passing a bill aimed at simplifying tax rules to enhance investment attractiveness. The new legislation abolishes a limitation on specific electronic payment options, allowing banks and providers to charge merchants on transactions. Additionally, the government is empowered to revise the zero-MDR scheme for UPI and RuPay. This initiative is poised to drive advancements in the financial sector’s infrastructure and innovative capabilities.