UPI Payment: Today, everyone is using UPI. After the arrival of UPI, it has become very easy for people to transact. Anyone can go anywhere and make a payment easily. Often, there are reports that the government is going to increase the charge on UPI. More UPI amount will be charged. But at this time, big news is that the government has asked not to charge any fee on UPI.
Read Here: FASTag users beware, Read these important things before making an annual pass
There will be no charge for payment through UPI
For information, let us tell you that the central government informed on Monday that no proposal has been made to impose a transaction fee on digital payment. The UPI transaction has been designed in a very easy way through NPCI. A new rule for payment on UPI was made on 30 August 2019. In which the bank was permitted to charge MDR at the rate of 0.30 percent of the transaction value.
In this regard, Minister of State for Finance Pankaj Chaudhary, in a written reply to a question in the Lok Sabha, said that Section 10A of the Payment and Settlement Systems Act 2007 provides that no bank or system shall levy any fee on the person making payment or receiving payment through electronic means prescribed under Section 269SU of the Income Tax Act, 1961.
CBDT recognized the payment
CBDT recognized UPI and RuPay Debit Card as a digital payment medium under Section 269SU of the Income Tax Act, 1961. To ensure the smooth running of the UPI service, the government launched an incentive scheme from FY 2021-22 to 2024-25. During this period, the government provided about Rs 8,730 crore.
Read Here: No Bilateral Cricket Series: India to Play Pakistan Only in ICC, Asia Cup Tournaments
UPI transactions have also seen a tremendous increase. While there were only 92 crore transactions through UPI in 2017-18, this figure increased to 18,587 crore in 2024-25. Its CAGR was 114 percent. At the same time, the transaction value increased from Rs 1.10 lakh crore to Rs 261 lakh crore.
UPI created a new record
According to the government, UPI set a new record in July 2025, when more than 1,946.79 crore transactions took place in a single month. The number of digital payments across the country has also increased from 2,071 crore in 2017-18 to 22,831 crore in 2024-25, witnessing an annual average growth of 41%. During the same period, the total transaction value increased from Rs 1,962 lakh crore to Rs 3,509 lakh crore.