Amid growing speculation, the Reserve Bank of India has clarified that UPI transactions will not attract charges. Governor Sanjay Malhotra gave an assurance that the central bank has no plans to levy charges on the country’s most widely used digital payment platform, thus easing public concerns about potential transaction fees.
Alongside his reassurance, Malhotra struck an optimistic note on the economy, saying India is on a “very high growth trajectory.” In its fourth bi-monthly monetary policy review, the RBI projected 6.8% GDP growth for the ongoing fiscal year, placing India among the fastest-growing economies globally. However, he admitted that while growth is healthy, it still falls a shade short of the aspirational 8% mark.
The RBI also unveiled plans to widen financing options for Indian corporates by creating a framework that allows banks to fund acquisitions. This move is expected to expand the role of banks in capital market lending and further support the domestic industry.
Taken together, the announcements reflect the central bank’s twin focus: keeping everyday digital transactions affordable and driving economic momentum without losing sight of price stability.
