UPI Charges: Now there will be charge for making payments through UPI? RBI Governor has made it clear
UPI: RBI Governor Sanjay Malhotra said that he never claimed that UPI will always be free. He clarified that its cost will have to be borne by someone, be it the government, the bank or the user. At present, the government is giving subsidy, but this model is not sustainable in the long term. Crores of people across the country make payments through Unified Payment Interface (UPI) every day. Sometimes at tea stalls, sometimes on big shopping websites. But now a big question has come up regarding this free service. RBI Governor Sanjay Malhotra has clearly said that he never claimed that UPI will always be free. He said that this facility has a cost, and someone will have to bear it. Free service, but who will pay the price? In the press conference, Sanjay Malhotra said, “Who will bear the cost of UPI is important. But more important than that is that people keep making digital payments.” He also added that if the UPI model has to be made sustainable for a long time, then it has to...