Affordable Access

Deviating from the BHIM-UPI Law

  • Das, Ashish
Publication Date
Aug 24, 2020
DSpace at IIT Bombay
External links


With reference to Section 10A of the Payment and Settlement Systems (PSS) Act, 2007, and the prescribed electronic mode of payment, the Unified Payment Interface (in short UPI), we address a simple query. Is it that banks and system providers are required by law not to charge upon any person making or receiving a payment using the UPI? An answer to the above question would clarify a simple situation where we two go Dutch (split the bill) over lunch at a restaurant and you pay the full bill. Should I be confident that the bank cannot charge me (because of the extant law) if I make a payment of Rs 200 to you (the Dutch amount that I owe you) using the UPI? Or, should my lack of confidence prompt me to pay using the little cash that I kept for an emergency situation (where paying digitally is not an option)? The paper dwells on the same and provides a guidance for policy.

Report this publication


Seen <100 times