Amid the ongoing controversy, the Union Finance Ministry on Sunday said that the central government is not considering levying any charges for Unified Payments Interface (UPI) services.
The Finance Ministry took to Twitter and wrote, "UPI is a digital public good with immense convenience for the public & productivity gains for the economy. There is no consideration in the government to levy any charges for UPI services."
It added that the concerns of the service providers for cost recovery have to be met through other means.
"The govt had provided financial support for #DigitalPayment ecosystem last year and has announced the same this year as well to encourage further adoption of #DigitalPayments and promotion of payment platforms that are economical and user-friendly," it tweeted.
The statement from the ministry came after several media reports claimed that a Reserve Bank of India (RBI) paper titled “Discussion Paper on Charges in Payment System” had literature implying that the bank was considering adding fees to each financial transaction made through the UPI system.