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Finance Minister Reiterates Government's Stand On Keeping UPI Free
Speaking at a forum in Mumbai, Sitharaman said that the government sees digital payments as a public good and people should be able to access these facilities freely
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Union Finance Minister Nirmala Sitharaman on Saturday reiterated government’s stand to keep digital payments ecosystem completely free to support its growth.
Speaking at a forum in Mumbai, Sitharaman said that the government sees digital payments as a public good and people should be able to access these facilities freely.
“We intend to achieve a higher level of transparency through digitisation. Therefore, we do think it is not yet time for charging for UPI services,” she said.
The minister said the centre will continue to provide support to the digital ecosystem this year also to encourage further adoption of the digital economy.
Apprehensions of UPI services attracting a fee kicked up after a discussion paper put out by the Reserve Bank of India last week which sought suggestions on whether charges should be levied on transactions through UPI.
The finance ministry clarified a few days after the paper was put in public domain that there are no plans to levy any charges on UPI. It further added that the cost borne by providers will have to be recovered through other means.