RBI says ‘someone will have to pay the cost’ of UPI transactions
RBI Governor Sanjay Malhotra said UPI transaction costs must be borne by someone if UPI charges are introduced, alongside a reported legal move to enable MDR-type fees.
What happened: RBI Governor Sanjay Malhotra on who should bear UPI transaction costs
RBI Governor Sanjay Malhotra said UPI transaction costs—described as free for merchants and customers—must be borne by someone if UPI charges are introduced.
RBI Governor Sanjay Malhotra made the remarks in the context of reported government moves to enable fees for UPI transactions.
The reported policy debate includes a design where some merchants pay banks for platform use, with expectations that such costs could be passed to customers.
