NEW DELHI: With concerns over the likely levying of charges on UPI payments following a Reserve Bank of India (RBI) discussion paper hinting at the same, the government on Sunday clarified that there are no such plans to levy any charges on UPI services.
The finance ministry posted a couple of tweets clarifying its position on the issue. “UPI is a digital public good with immense convenience for the public and productivity gains for the economy. There is no consideration in the government to levy any charges for UPI services. The concerns of the service providers for cost recovery have to be met through other means,” read one of the tweets.
The Finance Ministry further said that the government had provided financial support for the digital payment ecosystem last year and has announced the same this year as well to encourage further adoption of digital payments and promotion of payment platforms that are economical and user-friendly. The Reserve Bank of India (RBI) last week released a discussion paper on charges in payment systems. The paper talks about charges on all payment systems.