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The RBI’s recent consultation paper regarding the possible revision of charges on digital transactions -- including UPI -- has become controversial. Many users were unhappy and took to social media to express their disappointment. The Centre, too, isn’t happy. The Finance Ministry tweeted that UPI is a digital public good and that “there is no consideration in Govt to levy any charges for UPI services.”But, why did the RBI want to review the charges in the first place? Also, can we now assume that the plan to levy a charge on UPI payments has been dropped?
Hamsini Karthik helps understand the issue better. Listen in.
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