Centre confirms it won't levy charges on UPI transactions

The Centre on Sunday said there are no plans to levy charges for making payments through Unified Payments Interface (UPI).

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This comes days after the RBI sought feedback from stakeholders on the possibility of imposing gradual charges on UPI transaction.

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Currently, no cost is incurred by users or merchants in the case of payments made through.

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The Ministry of Finance on Sunday said the concerns of service providers for cost recovery have to be met through other means.

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For FY23, the Centre has set aside Rs 200 crore for promotion of digital payments in the Budget.

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