Private Bank imposes charges on UPI transactions | HDFC, Axis, ICICI and Kotak Bank in Tamil

Private Bank imposes Charges on UPI transactions | HDFC, Axis, ICICI and Kotak Bank in Tamil

All the large private banks have introduced charges, ranging from Rs 2.5 to Rs 5, on person-to-person payments using the Unified Payments Interface (UPI) beyond 20 times a month. Although the government has said that payments UPI would be free, bankers say that the charges have been introduced to prevent frivolous transactions from putting a load on the system.

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