UPI transactions to remain free, no plan yet to levy charge: RBI governor Sanjay Malhotra
RBI Governor Sanjay Malhotra also expressed confidence in India’s economic outlook, highlighting a “very high growth trajectory.”
Reserve Bank of India (RBI) governor Sanjay Malhotra on Wednesday said that there is no proposal to levy any charge on UPI transactions, putting to rest recent concerns over potential fees on the popular digital payment system.
Governor Malhotra also expressed confidence in India’s economic outlook, highlighting a “very high growth trajectory” alongside a commitment to maintaining price stability.
India is expected to be among the fastest-growing major economies this year, with the central bank forecasting growth of 6.8% in the current fiscal year.
Malhotra previously said that growth is strong but below the "aspirations" of nearly 8%.
Announcing the fourth bi-monthly monetary policy review, Malhotra further said it is proposed to provide an enabling framework for Indian banks to finance acquisitions by Indian corporates, thereby expanding the scope of capital market lending by banks.
