Lok Sabha passes bill allowing charges on UPI, RuPay merchant transactions

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The Lok Sabha has passed a new bill aimed at simplifying tax regulations to make India a more attractive investment destination. The legislation removes an existing restriction on certain electronic payment methods, enabling banks and payment providers to levy charges on merchant transactions. The government has also been granted authority to revise the zero-MDR policy currently applicable to UPI and RuPay payments. The move is expected to support infrastructure development and foster innovation within India's financial sector.

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