RBI Governor Sanjay Malhotra has clarified that there is no plan to impose charges on UPI payments. Addressing questions during a press conference after the monetary policy review, he said that no such proposal is before the central bank.

Currently, UPI payments are free and the government subsidizes the costs of supporting digital transactions. Although fintech companies have proposed charging a small fee, the finance ministry has opposed the move, fearing that it would discourage users. Surveys show that most people would stop using UPI if charges are imposed.

The RBI's clarification came as the NPCI released UPI data for September. Transactions declined marginally to 19.6 billion from 20.1 billion in August, although the daily average rose to 654 million. The total transaction value remained at around Rs 24.9 lakh crore.