RBI Governor Hints at Possible Charges on UPI Transactions Amid Policy Review

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Finance Minister Nirmala Sitharaman has introduced amendments to the Payment and Settlement Systems Act in Parliament, potentially paving the way for UPI transaction charges. The move could allow the reintroduction of the Merchant Discount Rate (MDR) on UPI payments, which was waived in 2020. RBI Governor has acknowledged the financial reality of digital payment infrastructure, stating that the costs of running such systems must be borne by someone. The development has sparked debate over whether merchants or consumers could eventually face fees on UPI transactions.

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