UPI Payment – There is big news for UPI users. Reserve Bank of India Governor Sanjay Malhotra has given a big hint about Unified Payments Interface (UPI) payment. He said on Friday that emphasis will be laid on making the UPI interface more financially strong in the future. Along with this, he said that in the coming days, this digital payment will not always be free. A charge will have to be paid for this.
The RBI governor said this while addressing a program in Mumbai. He said that right now the Unified Payments Interface (UPI) system is working without charging any fee, but it will not last long. Sanjay Malhotra said that although the government gives some subsidy to banks and other stakeholders for this. The government does this so that the UPI system can run without any interruption in real time infrastructure.
The RBI governor further said that in today’s era, it is also important to make digital payments secure and our country has always been committed to this and will remain so in the future too. He warned that the durability of infrastructure cannot be ignored. In such a situation, someone will have to pay the money.
People are making UPI payments indiscriminately
He said that in today’s era, everyone is making UPI payments indiscriminately. While addressing the program, Sanjay Malhotra also mentioned the expenses associated with it. He said that it is growing very fast. He said that within just two years, the figure of Unified Payments Interface (UPI) has doubled from 31 crores to 60 crores.
This speed has created pressure to strengthen the infrastructure. The Indian government does not charge any fee from the users for this UPI transaction. Along with this, it does not get any revenue either. This is because the Merchant Discount Rate (MDR) is zero. Regarding this, people of this industry believe that if this situation remains, then this will not last long.
RBI Governor said important things
The Governor of the Reserve Bank of India said that interest rate cuts can be considered in the coming days. He said that monetary policy is decided keeping in mind the future. In this, the current inflation figures are very important. He said that the inflation rate right now is 2.1 percent.