Prohibition on charges for electronic payments bars banks and system providers from levying fees for specified electronic payment modes. The Payment and Settlement Systems Act, 2007 was amended to prohibit banks and system providers from imposing, directly or indirectly, any charge on ... Summary
Prohibition on charges for electronic payments bars banks and system providers from levying fees for specified electronic payment modes.
The Payment and Settlement Systems Act, 2007 was amended to prohibit banks and system providers from imposing, directly or indirectly, any charge on persons making or receiving payments by the electronic modes of payment prescribed under the Income-tax Act, with the prohibition effective from 1 November 2019.
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