UPI Won't Remain Completely Free; Someone Has to Bear the Cost: RBI Governor's Major Statement

Reserve Bank of India Governor Sanjay Malhotra has made a significant statement regarding UPI payments. Here are the details.

Could UPI payments become costlier in the future? RBI Governor Sanjay Malhotra has addressed this question. He stated that a digital payment system like UPI cannot remain entirely free forever, as the associated costs must be borne by someone. However, this does not mean that ordinary users will immediately start paying fees for using UPI.

What is the issue?