The Hindu·4 min read·hard
RBI has funds to pay for UPI platform without having to charge merchants, customers
T
T.C.A. Sharad Raghavan
✦AI Summary
RBI Governor Sanjay Malhotra stated that the costs of UPI transactions must be covered, amid government moves to potentially allow merchant charges. An analysis suggests the RBI has sufficient surplus funds to cover these costs without charging users.
Reserve Bank of India Governor Sanjay Malhotra on Wednesday (August 5, 2026) said that “someone will have to pay the cost” of UPI transactions, which are currently free for merchants and customers. The cost is currently being borne by banks and the National Payment Corporation of India.
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