1 hr ago
Mumbai School Bus Owners Plan to Stop UPI Payments
Mumbai's school bus owners say they will stop taking UPI payments after October 15.
They are concerned about proposed charges on transactions above Rs 2,000.
The association says the people receiving the money would have to pay those charges.
Its president said many families pay six months of bus fees at once, and those payments are usually above the limit.
The association says parents can pay by cheque or credit card.
Its president also said NetBanking transfers could be used.
The School Bus Owners Association (SBOA) said it will stop accepting digital payments after October 15.
The association cited proposed charges on UPI transactions above Rs 2,000.
SBOA president Anil Gard said merchants would have to pay the transaction cost.
Gard said six-month advance fees generally exceed Rs 2,000.
A circular to parents says bus fees will be accepted through cheques or credit cards; Gard also mentioned NetBanking transfers.
- Who
- The School Bus Owners Association (SBOA), led by president Anil Gard, and parents paying school bus fees.
- What
- SBOA plans to stop accepting digital payments after October 15, citing proposed UPI transaction charges; it says fees can be paid by cheque or credit card.
- Where
- Mumbai.
- When
- October 15 is the last day for accepting digital payments, according to SBOA.
- Why
- SBOA says merchants receiving UPI payments would have to pay charges on transactions above Rs 2,000, and six-month advance fees generally exceed that amount.
SBOA
Finance Ministry policy as described
UPI transaction charges
SBOA
SBOA says receiving UPI payments would cost bus operators and companies, particularly for six-month advance fees above Rs 2,000, so it plans to shift away from digital payments.
Finance Ministry policy as described
The article reports that the Union Finance Ministry announced charges of Rs 200 on transactions above Rs 2,000; it does not provide a response from the ministry or explain its rationale.
Key facts
- Association
- School Bus Owners Association (SBOA)
- Location
- Mumbai
- Last day for digital payments
- October 15
- Transaction threshold cited
- Rs 2,000
- Payment methods named in circular
- Cheques and credit cards
- Additional method mentioned by SBOA president
- NetBanking transfers
- SBOA president
- Anil Gard
Quotes
Anil Gard
President of the School Bus Owners Association
“As the cost of the transaction is to be paid by the merchant receiving the payment, the drivers and companies will have to pay the amount for providing UPI service. The six-month upfront fee is generally above the 2,000 limit, so it will be better for us to accept cheques and NetBanking transfers.”
freepressjournal.in
Sources
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