RBI has sufficient funds to maintain the UPI platform without charging merchants or customers, despite proposed transaction fees.

India has taken a step towards allowing merchant charges on Unified Payments Interface (UPI) transactions after proposed amendments to the country's payments law were introduced…

Parliamentary amendments propose restoring merchant discount rates on UPI payments. This move aims to encourage digital transactions by allowing banks to charge fees. The…

NEW DELHI: RBI governor Sanjay Malhotra said consumers already bear the cost of UPI transactions indirectly even if merchant fees are not explicitly charged.Responding to…

Central bank governor Sanjay Malhotra stated it is premature to discuss UPI transaction charges. Discussions are ongoing regarding the payment mechanism's future and costs. The…