Friday, 24 March, 2023

No charges will be imposed on UPI transactions, says Finance Ministry

<p>The Centre stated that there are no intentions to impose fees for using UPI to make payments. The Ministry of Finance declared that other methods must be used to address service providers&#39; concerns about cost recovery. This comes days after RBI asked stakeholders for feedback on the prospect of gradually charging users of the UPI system based on various amount ranges. Currently, neither users nor retailers pay any fees while using UPI to make payments.</p>