'The concerns of the service providers for cost recovery have to be met through other means,' tweets the ministry.
More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. [UPI](/topic/upi) is a digital public good with immense convenience for the public & productivity gains for the economy. Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. There is no consideration in Govt to levy any charges for [UPI](/topic/upi) services. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
UPI Payment Charges Latest News: The Government is not considering any charges on UPI services, the Ministry of Finance today clarified.
“UPI is a digital public good with immense convenience for the public & productivity gains for the economy. It also noted that UPI is a digital public good with immense convenience for the public and productivity gains for the economy. UPI Payment Charges Latest News: The Government is not considering any charges on UPI services, the Ministry of Finance today clarified.
वित्त मंत्रालय ने ट्वीट में कहा कि यूपीआई लोगों के लिए एक उपयोगी सेवा है।
Charges on UPI Payment: सरकार यूपीआई पेमेंट सर्विस पर किसी तरह का चार्ज लगाने पर विचार नहीं कर ...
यूपीआई के माध्यम से आप एक बैंक अकाउंट को कई यूपीआई ऐप से लिंक कर सकते हैं. वहीं, अनेक बैंक अकाउंट को एक यूपीआई ऐप के जरिए संचालित कर सकते हैं. आप अपने बैंक अकाउंट को यूपीआई ऐप से लिंक कर इस सिस्टम का इस्तेमाल कर सकते हैं.
लोगों के बीच डिजिटल लेनदेन को आसान और मुफ्त बनाने वाली सर्विस UPI पर भी क्या सरकार अब ...
इसी को लेकर लोगों के बीच ये भ्रम पैदा हुआ कि सरकार यूपीआई पर भी शुल्क वसूलने जा रही है, लेकिन अब वित्त मंत्रालय ने इस पर सब साफ कर दिया है. इस साल के लिए भी ऐसी सहायता देने का ऐलान किया गया है. इसने आम जनता और प्रोडक्टिविटी के लेवल पर अच्छी सुविधा दी है.
Last week a discussion paper put out by the Reserve Bank of India sought suggestions on whether charges should be levied on transactions through UPI and ...
It was finally after none of us participated in the mock e-auction last week when they came to senses and agreed to the demands,” the person told ET.Initially, when ICC issued an invitation to tender, it had not kept any reserve price and was inviting closed bids from bidders. There is no consideration in Govt to levy any charges for UPI services," it said on the microblogging site Twitter. About 780,000 net subscribers exited but re-joined the EPFO by transferring their accumulations from previous accounts to current ones, instead seeking final withdrawals. It was considered necessary to undertake a comprehensive review of the rules and procedures for levying charges in different payment systems in the country, with the objective of assessing their impact on the efficiency, growth and acceptance of payment systems, the paper said. In December last year, the regulator said that it will release a discussion paper on various charges levied by banks and institutions for all kinds of digital transactions through credit cards, debit cards, wallets, and Unified Payments Interface (UPI). [finance ministry](/news/ministry-of-finance)on Sunday said that the government is not considering any charges for [Unified Payments Interface](/topic/unified-payments-interface)( [UPI](/topic/upi)) payment services and that service providers' cost recovery will have to be met through other means.
वित्त मंत्रालय की तरफ से जारी बयान में कहा गया है कि सरकार यूपीआई पेमेंट सर्विस पर ...
The Centre also said other means would be worked out for UPI platforms to recover the cost of their services.
The Centre also said other means would be worked out for UPI platforms to recover the cost of their services. There is no consideration in Govt to levy any charges for UPI services. This came amid speculation that the government may be looking to impose a fee on the popular mode of financial transaction.
UPI to remain free: Prime Minister Narendra Modi had earlier hailed the achievement of Unified Payments Interface (UPI) transactions crossing 6 billion in ...
In a tweet on Sunday evening, the Finance Ministry said: "UPI is a digital public good with immense convenience for the public and productivity gains for the economy. The UPI facility was launched on April 11, 2016, by then Reserve Bank of India Governor Raghuram Rajan. Earlier, there was a rumour on whether the Modi-led union government would come up with a rule, wherein users will have to pay on every UPI transaction.
Most other modes of digital retail payments attract a charge on transactions. Currently, the government has mandated a “zero-charge framework” for UPI ...
Terming UPI services as a “digital public good”, the Finance Ministry stepped in on Sunday to clarify that the concerns for the service providers for cost recovery have to be met through other means. The concerns of the service providers for cost recovery have to be met through other means,” the ministry said in a tweet. “But who should bear the cost of setting up and operating such an infrastructure is a moot point,” the banking regulator had said in the paper. There will also be a focus to promote use of payment platforms that are economical and user friendly”. Currently, the government has mandated a “zero-charge framework” for UPI transactions, with effect from January 1, 2020. MDR on UPI transactions has been a long-standing demand of the payments industry.
Earlier, RBI had plans to levy charges for payment systems including UPI, NEFT and IMPS.
There is no consideration in Govt to levy any charges for UPI services,” the Ministry said in a statement on Sunday. (example: u cannot substitute for you, d is not 'the', n is not 'and'). Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text.
New Delhi, Aug 21 (PTI) The Finance Ministry on Sunday said United Payments Interface (UPI) is a digital public good and there is no consideration in the ...
This means that charges in UPI are nil for users and merchants alike. “UPI is a digital public good with immense convenience for the public & productivity gains for the economy. The government has mandated a zero-charge framework for UPI transactions with effect from January 1, 2020.
UPI: वित्त मंत्रालय ने रविवार को कहा कि 'यूनाइटेड पेमेंट इंटरफेस' (UPI) लोगों के लिए एक ...
యూనిఫైడ్ పేమెంట్స్ ఇంటర్ఫేస్ సేవలపై ఛార్జీలు విధించేందుకు ప్రభుత్వం ఎలాంటి ...
ప్రతి UPI చెల్లింపులకు అదనపు ఛార్జీలు వడ్డించనున్నట్లు వస్తున్న వార్తల నేపథ్యంలో కేంద్ర ఆర్థిక మంత్రిత్వ శాఖ ఈ ప్రకటన చేసింది. ఈ క్రమంలో కేంద్రం యూపీఐ సేవలపై ఛార్జీలు విధించడం లేదని క్లారిడీ ఇవ్వడంతో వినియోగదారులు హర్షం వ్యక్తంచేస్తున్నారు. యూనిఫైడ్ పేమెంట్స్ ఇంటర్ఫేస్ సేవలపై ఛార్జీలు విధించేందుకు ప్రభుత్వం ఎలాంటి పరిశీలన చేయలేదని ఆర్థిక శాఖ పేర్కొంది.
UPI Transaction: वित्त मंत्रालय ने एक ट्वीट में कहा, ''यूपीआई लोगों के लिए एक उपयोगी सेवा है, ...
सरकार ने पिछले साल डिजिटल भुगतान इकोसिस्टम के लिए वित्तीय सहायता प्रदान की थी और इस साल भी इस तरह के भुगतानों को अपनाने और आर्थिक और उपयोगकर्ता के अनुकूल भुगतान प्लेटफार्मों को बढ़ावा देने के लिए इसकी घोषणा की है. जनवरी 2020 में, केंद्र ने यूपीआई और देसी रुपे डेबिट कार्ड लेनदेन पर मर्चेंट डिस्काउंट रेट वापस ले लिया, जिससे यूपीआई के माध्यम से भुगतान में तेजी से वृद्धि हुई. चर्चा पत्र में सुझाव दिया गया है कि यूपीआई भुगतान (UPI Payment) पर विभिन्न रकम की श्रेणियों में शुल्क लगाया जा सकता है. मंत्रालय का यह बयान भुगतान प्रणाली में शुल्क पर भारतीय रिजर्व बैंक (RBI) के चर्चा पत्र से उपजी आशंकाओं को दूर करता है. वित्त मंत्रालय ने एक ट्वीट में कहा, ‘‘यूपीआई लोगों के लिए एक उपयोगी सेवा है, जिससे लोगों को काफी सुविधा होती है और अर्थव्यवस्था की उत्पादकता बढ़ती है. डीएनए हिंदीः वित्त मंत्रालय (Finance Ministry) ने रविवार को कहा कि ‘यूनाइटेड पेमेंट इंटरफेस’ (UPI) लोगों के लिए एक उपयोगी डिजिटल सेवा है और इस पर शुल्क लगाने का सरकार कोई विचार नहीं कर रही है.
The Government of India won`t levy any charges on UPI (Unified Payments Interface) services.After reports circulated online that there may be the ...
Earlier, Prime Minister Narendra Modi Prime Minister Narendra Modi had hailed the UPI transactions crossing 6 billion in July." UPI reported 6.28 billion transactions amounting to Rs 10.62 trillion, according to data released by the National Payments Corporation of India (NPCI). In a tweet, the finance ministry said that UPI would remain free."
केंद्रीय वित्त मंत्रालय ने स्पष्ट किया है कि 'यूनाइटेड पेमेंट इंटरफेस' (यूपीआई) ...
सरकार की ओर से स्पष्टीकरण उन मीडिया रिपोटरें के बाद आया है जिसमें दावा किया गया था कि केंद्रीय बैंक यूपीआई प्रणाली के माध्यम से किए गए प्रत्येक वित्तीय लेनदेन में शुल्क जोड़ने पर विचार कर रहा है। रिपोर्ट सोशल मीडिया पर चर्चा का विषय बन गया था और कई लोगों ने रिपोर्ट पर भारत सरकार के हैंडल के लिए स्पष्टीकरण भी मांगा था। उन्होंने कहा, "सरकार ने पिछले साल डिजिटल इको सिस्टम तंत्र के लिए वित्तीय सहायता प्रदान की थी और इस वर्ष भी डिजिटल को अपनाने और भुगतान प्लेटफार्मों को बढ़ावा देने के लिए प्रोत्साहित करने की घोषणा की है जो किफायती और उपयोगकर्ता के अनुकूल हैं।" केंद्रीय वित्त मंत्रालय ने स्पष्ट किया है कि ‘यूनाइटेड पेमेंट इंटरफेस’ (यूपीआई) लेन-देन पर कोई सेवा शुल्क नहीं लिया जाएगा। वित्त मंत्रालय ने एक ट्वीट कर कहा, "यूपीआई एक डिजिटल सार्वजनिक वस्तु है जिसमें जनता के लिए अत्यधिक सुविधा और अर्थव्यवस्था के लिए उत्पादकता लाभ है। यूपीआई सेवाओं के लिए कोई शुल्क लगाने का सरकार में कोई विचार नहीं है। लागत वसूली के लिए सेवा प्रदाताओं की चिंताओं को अन्य माध्यमों से पूरा किया जाना है।"
At this stage, it is reiterated that the RBI has neither taken any view nor has any specific opinion on the issues raised in this discussion paper,” it ...
The volume and the value of transactions in July were up 7.2% and 4.8%, respectively, from the June levels. In value term, the transactions were worth `10.63 trillion. A tiered charge could be imposed based on the different amount bands,” said the discussion paper. The UPI registered 6.28 billion transactions in July 2022, its highest number of transactions since its launch six years ago. “UPI as a funds transfer system is like IMPS. Therefore, it could be argued that the charges in UPI need to be similar to charges in IMPS for fund transfer transactions.
The Government of India won't levy any charges on Unified Payments Interface (UPI) services. In a tweet, the finance ministry said that UPI would remain ...
Terming UPI services as a "digital public good", the Finance Ministry stepped in on Sunday to clarify that the concerns for the service providers for cost ...
Terming UPI services as a “digital public good”, the Finance Ministry stepped in on Sunday to clarify that the concerns for the service providers for cost recovery have to be met through other means. The concerns of the service providers for cost recovery have to be met through other means,” the ministry said in a tweet. There will also be a focus to promote use of payment platforms that are economical and user friendly”. In its discussion paper, the RBI has approximated that with an average value of Rs 800 for a merchant transaction, various stakeholders enabling the UPI transaction, including the payer and beneficiary banks, the third-party app, and the NPCI, incur a cost of Rs 2. The RBI paper, seeking feedback on the fee structure for a range of digital payment services through a set of 40 questions, is open for comments till October 3. However, the RBI had said that at this stage, it is “reiterated that RBI has neither taken any view nor has any specific opinion on the issues raised in this discussion”.
UPI Charges: वित्त मंत्रालय ने साफ किया है कि सरकार यूपीआई पेमेंट सर्विस पर किसी तरह का लेवी ...
यूपीआई पेमेंट सर्विस पर किसी तरह का चार्ज लगाने का विचार नहीं किया जा रहा है. यूपीआई एक रियल टाइम पेमेंट सिस्टम है, जो एक बैंक के अकाउंट से दूसरे बैंक के अकाउंट में पैसा तुरंत ट्रांसफर करने की सुविधा देता है. मंत्रालय ने साफ किया है कि सरकार यूपीआई पेमेंट सर्विस पर किसी तरह का लेवी या चार्ज लगाने पर विचार नहीं कर रही है.
UPI Payment Charges: केंद्र सरकार ने यूपीआई से पेमेंट पर चार्ज लगाने को लेकर स्थिति साफ कर दी है ...
यूपीआई पेमेंट पर शुल्क लगाने को लेकर हो रही चर्चा पर केंद्रीय वित्त मंत्रालय (Ministry of Finance) ने ट्वीट कर सफाई दी है. केंद्रीय वित्त मंत्रालय (Ministry of Finance) ने साफ कर दिया है कि जो भी यूपीआई (UPI) की सेवा प्रदान कर रहा है, उसे किसी और तरीके से अपनी लागत निकालने पर विचार करना होगा. UPI Transactions Levy Charges: एक समीक्षा पेपर के सामने आने के बाद लगातार इस पर चर्चा हो रही थी कि सरकार यूपीआई ट्रांजेक्शन पर शुल्क लगाने पर विचार कर रही है.
The Finance Ministry has said that the government does not plan on levying charges on UPI transactions. A discussion paper by the RBI suggested a tiered ...
There is no consideration in Govt to levy any charges for UPI services,” the Finance Ministry said in a The government must continue to keep UPI transactions free as it continues to grow. One of the suggestions in this paper was that a tiered charge could be imposed on UPI transactions in line with Immediate Payment Service (IMPS) transactions. “The concerns of the service providers for cost recovery have to be met through other means," the ministry added. The total value of transactions in July 2022 alone was ₹10.62 lakh crore. A tiered charge could be imposed based on the different amount bands,” the RBI said in its paper. This will give a big boost to b credit cards and UPI. One reason that UPI was so successful is that the users were not charged anything to send and receive money. [Chinese smartphones continue to lead the market share despite crackdown by the Indian government](https://www.businessinsider.in/tech/mobile/news/four-out-of-five-smartphones-sold-in-india-were-from-chinese-companies/articleshow/93701715.cms) [Over 200 million UPI transactions were done each day in July 2022](https://www.businessinsider.in/finance/news/upi-transactions-reach-a-new-high-cross-the-6-billion-mark-in-july-2022/articleshow/93297345.cms') [Indian policy makers are not happy that 8 out of 10 UPI transactions are being done through PhonePe and Google Pay](https://www.businessinsider.in/finance/news/indian-policy-makers-are-not-happy-that-8-out-of-10-upi-transactions-are-being-done-through-phonepe-and-google-pay/articleshow/92804434.cms) Therefore, it could be argued that the charges in UPI need to be similar to charges in IMPS for fund transfer transactions. - The ministry has said that the government will continue to support the digital payment ecosystem. AdvertisementThe Unified Payments Interface (UPI) is one of the biggest achievements of the Digital India initiative and has made payments easier.
The clarification came amid speculations that UPI transactions may demand an additional charge in order to maintain the payments infrastructure.
The tweet also said that the cost of recovery has to be met through other means, and the government has provided financial support for the digital payments ecosystem in the country. The paper sought the government to re-look at its zero-MDR (merchant discount rate) policy, which remains absent on RuPay and UPI transactions. The Reserve Bank of India had also sought feedback related to the subject, as per a discussion paper released on August 17.
Finance Ministry on UPI Charges: भारतीय रिजर्व बैंक ने पेमेंट सिस्टम चार्जेस पर एक समीक्षा पेपर जारी ...
सरकार की ओर से स्पष्टीकरण उन मीडिया रिपोर्ट्स के बाद आया है जिसमें दावा किया गया था कि केंद्रीय बैंक यूपीआई सिस्टम के जरिए किए गए हरेक वित्तीय ट्रांजेक्शन में शुल्क जोड़ने पर विचार कर रही है. Finance Ministry on UPI Charges: वित्त मंत्रालय ने रविवार को कहा कि ‘यूनाइटेड पेमेंट इंटरफेस’ (यूपीआई) लोगों के लिए एक उपयोगी डिजिटल सेवा है और इस पर शुल्क लगाने का सरकार कोई विचार नहीं कर रही है. यूपीआई सेवाओं के लिए सरकार कोई शुल्क लगाने पर विचार नहीं कर रही है.
भारत सरकार यूनिफाइड पेमेंट्स इंटरफेस (UPI) सेवाओं पर कोई शुल्क नहीं लगाएगी।
अभी तक चर्चा थी कि सरकार UPI पेमेंट पर चार्ज लगा सकती है, लेकिन फाइनेंस मिनिस्ट्री ने ...
Fintech companies welcome initiative as UPI has brought many business and consumers into mainstream banking channels. According to NCPI, approximately 6.28 ...
According to the Ministry of Finance, the government had already provided financial support to the digital payment ecosystem in 2021. According to the RBI, MDR is “the charge recovered by the acquirer from the final recipient of money (i.e., merchant). So, charging UPI transactions at this point will undo some of the progress made in this direction,” Jagannathan said. According to Rohit Kumar, CEO and founder, XPay.life, a payments solution company, said, "Due to initiative by the Ministry of Finance and Startup India digital transactions in India are at an all-time high. “Analysing the financial transaction of SME data gives deep insights into their revenue and cost patterns over the last year or so. “UPI payments have ensured that the maximum amount of money passes through the official banking channel. UPI is a digital public good with immense convenience for the public & productivity gains for the economy. Banks can take informed decisions to facilitate such SMEs with credit and savings products, based on the analysed data. 2 for ‘processing a UPI-P2M transaction with an average transaction value of Rs. One of the rationales suggested that payment systems operators are independent entities which started with an initial outlay of capital. There is no consideration in Govt to levy any charges for UPI services. The much-needed clarification is, however, raising two pertinent questions.
The thought of UPI payments being charged didn't seemingly go down well but the government of India has now clarified its stance on the whole matter.
There has been a 99% increase in terms of volume and 90% in value compared to 2021. The finance ministry in its tweet further made it clear that it will continue to encourage adoption of digital payments. There is no consideration in Govt to levy any charges for UPI services,” the finance ministry said in a tweet.
ऐसी खबर पिछले कुछ दिनों से चर्चा में थी। इस बीच वित्त मंत्रालय (Union Finance Ministry) ने राहत भरी ...
UPI Transaction: यूनीफाइड पेमेंट इंटरफेस (Unified Payment Interface) से पैसों की लेन-देन करना लोकप्रिय ...
यूपीआई के माध्यम से वित्तीय लेन-देन और बिल पेमेंट से संबंधित ट्रांसैक्शन फेल होने पर आपके एकाउंट में पैसे रीफंड हो जाएंगे. How To Complain About UPI Transaction: अगर यूपीआई से पेमेंट करते वक्त आपके बैंक अकाउंट से पैसे कट जाएं और दूसरे पक्ष के एकाउंट में न पहुंचे, तो ऐसी स्थिति में परेशान होना लाजमी है. यह वेबसाइट कुकीज़ या इसी तरह की तकनीकों का इस्तेमाल करती है, ताकि आपके ब्राउजिंग अनुभव को बेहतर बनाया जा सके और व्यक्तिगतर तौर पर इसकी सिफारिश करती है.