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Understanding the New TCS Rules and its Impact on International Transactions Using Credit Cards

May 19, 2023May 20, 2023Harish Nair

Representative Image, Courtesy: Emil Kalibradov, Unsplash The Economic Affairs Department of the Ministry of Finance issued a Gazette notification on 16 May 2023 announcing amendments in the Foreign Exchange Management Act (FEMA) rules. These amendments brings the overseas spending done with the help of Credit Cards under RBI’s Liberalized Remittances Scheme (LRS). This meant that […]

Interchange fee introduced by NPCI is only for PPI Merchant Transactions and not for Regular P2P transactions…

March 30, 2023March 30, 2023Harish Nair

Many social media users have claimed that UPI transactions over Rs.2000 will be charged 1.1% as interchange fee from 1 April 2023. However, we found that UPI transactions remain free of cost. Only PPI merchant transactions over Rs.2000 will be charged 1.1% as interchange fee. Social Media Narrative View post here – Instagram | Archived […]

EXPLAINER: Everything to Know About Charges on UPI Transactions

August 23, 2022August 23, 2022Mayur Deokar

The RBI discussion paper merely sought public feedback and suggestions on charges to be applied to UPI transactions. India is leading in the digital payment sector with over 260 million digital payment transactions daily. More than two-thirds of these 260 million transactions are processed by the Unified Payments Interface (UPI) system. Just last month, UPI […]

Category: Finance

Understanding the New TCS Rules and its Impact on International Transactions Using Credit Cards

Interchange fee introduced by NPCI is only for PPI Merchant Transactions and not for Regular P2P transactions…

EXPLAINER: Everything to Know About Charges on UPI Transactions

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