Finance Ministry refutes plans to levy charges on UPI transactions

The finance ministry on Sunday said that the government is not considering any charges for Unified Payments Interface (UPI) payment services and that service providers’ cost recovery will have to be met through other means.

Last week a discussion paper put out by the Reserve Bank of India sought suggestions on whether charges should be levied on transactions through UPI and other payment systems and interchange fees on cards.

Source: Economic Times

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