Amendment to Taxation Act, Payment and Settlement Systems Act get President's assent
President Droupadi Murmu has assented to two new laws passed by Parliament. The Taxation and Other Laws (Amendment) Act, 2026, aims to attract foreign capital. This act also promotes domestic electronics manufacturing and offers process certainty. The Payment and Settlement Systems Act amendment provides legal backing for modifying zero-MDR on UPI. UPI payments will remain free for consumers, with future MDR applying to specific merchant transactions.
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