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Keeping UPI free is becoming an expensive affair

UPI’s runaway popularity is making it an expensive digital public good. The government has said it will remain free, but for how long?

August 25, 2022 / 11:54 AM IST
Keeping UPI free is becoming an expensive affair

The UPI has revolutionised digital payments by making it supremely easy – and free for everyone

Should people or businesses who use the Unified Payments Interface (UPI) start paying a fee or be levied any sort of charge? The Reserve Bank of India (RBI) posed the question and sought public feedback in its Discussion Paper on Charges in Payment Systems. From the regulator’s viewpoint, it was a perfectly valid query though it should have perhaps anticipated the howls of protest that swept through Social Media platforms. Within a couple of days, the Union Finance Ministry tweeted...

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