Official BaselineUPI is 100% surcharge-free for buyers. Kirana stores pay 0% fee under ₹2,000 (PIB PRID 2310586)
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p2mStatus: published

Capital Markets & Mutual Funds: Tiered Capped MDR

Mutual fund investments, stock broking, and depository transactions carry a specialized regulatory interchange capped at ₹50 per transaction.

Machine Readable Rule Specification Block
Rule ID: rule-p2m-capital-markets
Status: published
Payment Type: p2m
Effective From: 2026-09-15
Consumer Fee:0
Fee Type: tiered (tiered)
Fee Cap: ₹50
Source: PIB PRID: 2310586

Calculation Formula & Mechanics

min(Amount * 0.002, 50)

Applies To

Mutual fund platforms, stockbrokers, SEBI-registered intermediaries.

Does Not Apply To

General retail purchases.

Official Regulatory Attribution
Organization: Ministry of Finance, Government of India
Document Identifier: PIB PRID: 2310586
Publication Date: 2026-09-15
Last Verified: 2026-09-17