Try GOLD - Free
UPI Can't Remain Cost-Free Indefinitely: Malhotra
The New Indian Express Hyderabad
|August 07, 2025
RESERVE BANK governor Sanjay Malhotra on Wednesday said even as popular unified payments interface (UPI) remains free for users, it is not free as someone is already covering the cost and it can't remain cost-free indefinitely.
RESERVE BANK governor Sanjay Malhotra on Wednesday said even as popular unified payments interface (UPI) remains free for users, it is not free as someone is already covering the cost and it can't remain cost-free indefinitely. He added the government will ultimately decide who bears the operational expenses.
Addressing reporters at the customary post-policy presser here Wednesday, the governor in response to a query on his earlier statement, which alluded to him saying UPI can't be free forever, clarified that "I never said UPI can't stay free forever. What I said was there are costs (associated with UPI transactions), and they need to be paid for by someone."
This story is from the August 07, 2025 edition of The New Indian Express Hyderabad.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The New Indian Express Hyderabad
The New Indian Express Hyderabad
Another jolt to Uddhav as son’s close aide joins Shinde
AFTER losing six Lok Sabha MPs to defections, Shiv Sena (UBT) chief Uddhav Thackeray suffered another setback on Tuesday as party MLC Sachin Ahir filed his nomination as the Mahayuti candidate for the Maharashtra Legislative Council deputy chairperson’s election.
1 mins
July 01, 2026
The New Indian Express Hyderabad
Born outside, made in Morocco
IT’S impossible to separate the football World Cup without broader themes including identity, politics, migratory patterns and culture.
2 mins
July 01, 2026
The New Indian Express Hyderabad
GREAT RESISTANCE
South American team overcomes odds to produce one of their biggest sporting days by beating four-time champions in penalties
2 mins
July 01, 2026
The New Indian Express Hyderabad
Postman kept the post in curious case of Chamoli high hill’s missing mail
‘THE Postman Always Rings Twice’, James Cain titled his noir novel in 1934. But in Chamoli, Uttarakhand, a real-life postman allegedly decided not to ring even once. For nearly 18 months, it appears, the only thing that moved faster than the mail was the mystery of where it had disappeared.
1 min
July 01, 2026
The New Indian Express Hyderabad
Krysten Ritter returns to Dexter: Resurrection S2
REAKING Bad-fame Krysten Ritter is set to return as a guest star in the second season of Dexter: Resurrection.
1 min
July 01, 2026
The New Indian Express Hyderabad
Dell India infra install base grows 20-25% as cos adopt AI
DELL TECHNOLOGIES’ infrastructure install base in India has grown by 20-25%, driven by rising enterprise demand for artificial intelligence (AI) infrastructure, Venkat Sitaram, Senior Director and Country Head, Infrastructure Solutions Group of the company, told TNIE.
1 mins
July 01, 2026
The New Indian Express Hyderabad
Swiss giant MSC to invest $1.4 bn in Vizhinjam port
SWITZERLAND-based Mediterranean Shipping Company (MSC)—the world’s largest shipping transport company—will invest $1.397 billion (about ₹13,220 crore) to acquire a 49% stake in Adani Vizhinjam Port Private Ltd (AVVPL), the concessionaire of the Vizhinjam port in Kerala, Adani Ports and Special Economic Zone Ltd (APSEZ) said on Tuesday.
1 min
July 01, 2026
The New Indian Express Hyderabad
Kotak to buy Deutsche India's retail, pvt banking, wealth biz
FOURTH-largest private sector lender Kotak Mahindra Bank on Tuesday said it will acquire Deutsche Bank India’s retail, private banking and wealth business for a cash consideration of about ₹282 crore, marking the German lender’s complete exit of customer facing banking businesses in the country.
1 min
July 01, 2026
The New Indian Express Hyderabad
Gen Seth takes charge as Army chief, 1st Armoured Corps officer since 1997
GENERAL Dhiraj Seth took over as the 31st Chief of the Army Staff (COAS) on Tuesday, succeeding General Upendra Dwivedi, who retired after more than four decades of service.
1 mins
July 01, 2026
The New Indian Express Hyderabad
Break silos, adopt ‘whole of the govt’ idea, PM tells secys
PRIME Minister Narendra Modi, while chairing a review meeting on Tuesday with the secretaries of Central government departments, emphasised adoption of a “whole of the government” approach to ensure time-bound completion of work and delivery of objectives.
1 mins
July 01, 2026
Listen
Translate
Change font size