RBI Governor Confirms No Plans to Charge for UPI Transactions While Considering Digital Enforcement for Credit Purchases

Oct 01, 2025 05:01 pm CST

RBI Governor Sanjay Malhotra has affirmed there are no plans to levy charges on UPI transactions, while the central bank evaluates a proposal for remotely locking phones purchased on credit during payment defaults. The RBI has also raised India's GDP growth projection to 6.8% for the current fiscal year, with Malhotra expressing confidence in continued economic growth alongside price stability.