How RBI fought and lost battle to charge for UPI transactions
- The government has ignored the central bank’s dogged efforts to make UPI and RuPay transactions chargeable
- Since January 2020, the government did away with payments merchants need to make for transactions using two of India’s home-grown payments systems: the UPI and RuPay debit cards.
MUMBAI : On a cold December morning in 2019, bureaucrats from India’s department of financial services met with officials from the Reserve Bank of India (RBI) and the heads of several banks.
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