Government introduced a Bill in Parliament to notify chargeable UPI transaction types
GK and monthly revision
RBI has funds to pay for UPI platform without having to charge merchants, customers
The government has introduced a Bill in Parliament to enable notification of transaction types that may attract charges on the UPI platform, which has so far remained free for merchants and customers. This legislative move signals a potential shift in the zero-fee UPI regime and empowers the Centre to define chargeable transactions in the future. The development is significant for exams as it relates to digital payment policy, RBI's role in payment systems, and financial inclusion initiatives under the government's Digital India programme.
Source: The Hindu. This summary and analysis are AI-written from that report and are not individually fact-checked — confirm names, dates and figures with the source before you rely on them.
Revision structure
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Quiz and mock-test revision path
Key points
Exam-ready takeaways
UPI has been free for both merchants and customers since its inception
The Bill empowers the Centre to specify which transactions may attract charges in future
Move indicates potential policy shift from zero-fee digital payments model
Relevant to RBI's oversight of payment systems and Digital India financial inclusion goals
How to study
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