π¦ UPI costs already baked into the economy, says RBI Governor
RBI Governor Sanjay Malhotra stated that consumers are already indirectly covering the costs of UPI transactions even without explicit merchant fees. He noted that making a decision on merchant fees right now is too premature for the payments infrastructure. The government had previously proposed amendments to allow fees, especially for transactions over Rs 2,000. Malhotra emphasized that the focus remains on scaling UPI usage towards 800 million transactions daily. Ultimately, he suggested the general economy bears the cost, not just the end consumer.