RBI shares its plan to impose charges on every transactions done through UPI platform, in discussion

Unified Payments Interface (UPI) has gained popularity all over the world as the fastest growing payments platform with 150 million daily users.

RBI has recently released its discussion paper titled 'Charges in payment system for public feedback.

RBI owns and operates RTGS and NEFT whereas IMPS, RuPay, UPI etc are operated by National Payments Corporation of India(NPCI) which is a non-profit entity since it has no transaction charges.

Based on the feedback from shareholders, it will plan policy and will structure framework for the charges on the payment services.

Report by Davinder Singh

Graphics by Maitri Mittal