UPI transactions to remain free, no plan yet to levy charge: RBI governor Sanjay Malhotra

RBI Governor Sanjay Malhotra also expressed confidence in India’s economic outlook, highlighting a “very high growth trajectory.”

Updated on: Oct 1, 2025, 13:37:54 IST

By HT News Desk

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Reserve Bank of India (RBI) governor Sanjay Malhotra on Wednesday said that there is no proposal to levy any charge on UPI transactions, putting to rest recent concerns over potential fees on the popular digital payment system.

Sanjay Malhotra, governor of the Reserve Bank of India (RBI). (Bloomberg)

Governor Malhotra also expressed confidence in India’s economic outlook, highlighting a “very high growth trajectory” alongside a commitment to maintaining price stability.

India is expected to be among the fastest-growing major economies this year, with the central bank forecasting growth of 6.8% in the current fiscal year.

Malhotra previously said that growth is strong but below the "aspirations" of nearly 8%.

Announcing the fourth bi-monthly monetary policy review, Malhotra further said it is proposed to provide an enabling framework for Indian banks to finance acquisitions by Indian corporates, thereby expanding the scope of capital market lending by banks.

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Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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