The Finance Ministry clarified amid speculations that UPI (Unified Payments Interface) transactions may apply additional charges for maintaining the payments infrastructure.
The government mentioned that currently there is no consideration in applying any charges on UPI services.
The govt informed that it provided financial support this year and last year for the UPI adoption.
The Reserve Bank of India has sought feedback on the same.
The Central Government has finally clarified its stand on numerous reports stating that it may attach additional charges on UPI transactions.
The Ministry of Finance said that UPI is a digital public good and there is no consideration to levy any charges for UPI services. The series of tweets released by the Finance Ministry on Sunday said the cost of recovery needs to be met through other means, and the government has provided complete financial support for the digital payment ecosystem. The tweets announced its assistance for this year also to encourage further adoption of digital payment means.
