Relief: Government is not in favor of levying any kind of charge on UPI payment service, statement of Finance Ministry

It was in discussion for the last few days that the Reserve Bank of India is going to give another blow to the common man and may soon levy a charge on payments made through UPI. Meanwhile, yesterday the Finance Ministry has given relief information on this matter. In a statement issued by the Finance Ministry, it has been said that the government is not considering imposing any kind of charge on the UPI payment service.

The Finance Ministry tweeted, “UPI is one such digital platform which is highly convenient for the public and has a major contribution to the economy. The government is not considering imposing any kind of charge on the UPI payment service. Other options will be considered for cost recovery for service providers. To strengthen the digital payment ecosystem, the government had announced financial assistance last year. This help will continue this year also.

Significantly, according to the data released by NPCI, the number of people using UPI payment is increasing every month in the country. These figures show that in the last July alone, a total of 600 crore transactions have been done in the country. A total amount of Rs 10.2 lakh has been transacted in this. The rate of UPI users in the country has increased by more than 7 percent.