Now Is Not The Right Time To Levy Charges On UPI Services, The Finance Minister Said - It Is Benefiting The Public
Finance Minister Nirmala Sitharaman has reiterated the government's stand to keep the digital payment system free. Speaking during an event in Mumbai, the Finance Minister said that the government believes that the digital payment system is providing convenience to the common people, it benefits the public, so it is necessary that this service is provided to the common people free of cost. I keep meeting.
BaluSingh Rajpurohit 
Finance Minister Nirmala Sitharaman has reiterated the government's stand to keep the digital payment system free.
Speaking during an event in Mumbai, the Finance Minister said that the government believes that the digital payment system is providing convenience to the common people, it benefits the public, so it is necessary that this service is provided to the common people free of cost. I keep meeting.
The Finance Minister said that we see digital payments as a public interest. People should be able to use these facilities freely so that the digitization of the Indian economy remains attractive to them.
Nirmala Sitharaman said during the program, 'We want to achieve a high level of transparency through digitization. Hence, we feel that the right time is not yet to charge for UPI services.
The finance minister's remarks came days after the finance ministry clarified that there are no plans to levy any charges on UPI. Let us inform you that UPI is based on a zero charge framework from January 1, 2020.
The ministry had said that the cost to be borne by the service providers would be recovered through other means.
A discussion paper issued by the Reserve Bank of India last week sought suggestions on whether charges should be levied on transactions made through UPI and other payment systems.
