BANKING AFFAIRS

Detailed explanation-1: -No processing fee: As RuPay is issued by a government body, banks are not allowed to use its services without any additional quarterly processing fee.

Detailed explanation-2: -These charges are legitimate charges for a legitimate service being provided. But few people know that they need to pay 18 per cent as GST (Goods and Services Tax) on the digital payment charges.

Detailed explanation-3: -What are the annual charges for Debit Card ? An annual fee of Rs 125 + GST for classic cards, Rs 250+ GST for Platinum Cards and Rs.300/-+ GST for Business Debit Cards. The Charge for RuPay Select Debit Card is Rs 1000 + GST.