Trending

Charges on UPI transactions Soon?

Charges on UPI transactions Soon?

Recently a discussion paper by RBI stated that they may charge a fee on UPI transactions.

However, the MoF recently put out a tweet saying "There is no consideration in Govt to levy any charges for UPI services. "

Earlier this year, Prime Minister Narendra Modi shared the achievement of UPI transactions crossing 6 billion in July.

Currently, RTGS and NEFT payment systems are owned and operated by RBI.

Whereas systems like IMPS, RuPay, UPI, etc, are owned and operated by the NPCI.

The government has created a special zero-charge framework for UPI transactions that helps merchants and users.

Currently, there are no charges being imposed on UPI transactions and govt doesn;t plan anything similar in future.

SWIPE UP TO READ ABOUT THE BEST WHISKY BRANDS IN INDIA TO TRY