No charges on debit card transactions up to Rs 2,000: FinMin


Clients won't need to pay any transaction charges for installments through check card, BHIM app and other installment made for up to Rs 2,000 from today onwards a month ago, Union Cabinet endorsed a suggestion that legislature will bear the vendor rebate rate (MDR) energizes on exchanges to Rs 2,000 made through check cards, BHIM UPI or Aadhaar-empowered installment frameworks to advance computerized exchanges.

"Glad Digital 2018. December Quarter BHIM transaction rises 86 for each penny to 145.6 million with estimation of Rs 13,174 crore," Financial Services Secretary Rajiv Kumar said in a tweet.

"Advance driving force to computerized installments, government to repay energizes for exchange to Rs 2,000 on platinum cards/BHIM. Zero charges on vendors.Go Digital, grasp straight forwardness," he said.

The shipper rebate rate (MDR) will be borne by the legislature for a long time with impact from January 1, 2018 by repaying the same to banks…Read More

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