Try GOLD - Free
UPI Can't Remain Cost-Free Indefinitely: Malhotra
The New Indian Express Thiruvananthapuram
|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 Thiruvananthapuram.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 9,500+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The New Indian Express Thiruvananthapuram
The New Indian Express Thiruvananthapuram
India and UAE Set Target of $100 Billion Trade Under CEPA
In a bid to deepen the Comprehensive Economic Partnership Agreement (CEPA), India and the United Arab Emirates (UAE) have set a shared goal of achieving $100 billion in non-oil, non-precious-metals trade by 2030.
1 min
September 02, 2025
The New Indian Express Thiruvananthapuram
Pickleball craze peaks with gala tourney in city
The past weekend saw Thiruvananthapuram host a unique sporting event that nudged an already growing trend a step higher.
2 mins
September 02, 2025
The New Indian Express Thiruvananthapuram
First look of Jayasurya's Kathanar unveiled
THE first look of Jayasurya and Anushka Shetty's much-anticipated film, Kathanar: The Wild Sorcerer, has been unveiled.
1 min
September 02, 2025
The New Indian Express Thiruvananthapuram
Benny's Royal Tours gets ISO 9001:2015 certification
BENNY'S Royal Tours has become the first travel enterprise in South India to be awarded the internationally recognised ISO 9001:2015 certification for quality management by TUV Nord GmbH Germany, company sources said.
1 min
September 02, 2025
The New Indian Express Thiruvananthapuram
LURE OF LORE
T'S dark outside. The only light in the room comes from the vilakku, throwing soft shadows on the walls.
1 mins
September 02, 2025
The New Indian Express Thiruvananthapuram
Heritage, culture mapping of 75% villages done
AS part of the ambitious Mera Gaon Meri Dharohar (MGMD) programme aimed at preserving and showcasing India's cultural heritage, 75 percent of the villages across the country have been mapped and their cultural profiles uploaded on the dedicated portal.
1 mins
September 02, 2025
The New Indian Express Thiruvananthapuram
IIST Being Considered for National Recognition
THE Indian Institute of Space Science and Technology (IIST) at Valiamala, Thiruvananthapuram, could soon reach more heights, as it is in active consideration for being accorded the 'Institution of National Importance' (INI) status.
1 min
September 02, 2025
The New Indian Express Thiruvananthapuram
India Rout Kazakhstan 15-0
INDIA ran up a cricket score — 15-0 — against Kazakhstan in their final Pool A fixture at the Asia Cup in Rajgir on Monday.
1 min
September 02, 2025
The New Indian Express Thiruvananthapuram
India-US military exercise to take place in Alaska
THE ongoing tension between India and the US over American tariffs has not affected military ties, as the armies of the two countries have decided to continue with their scheduled joint exercise, Yudh Abhyas 2025.
1 min
September 02, 2025
The New Indian Express Thiruvananthapuram
EU leader's flight disrupted by suspected Russian interference
A plane carrying European Commission President Ursula von der Leyen was hit by GPS jamming over Bulgaria in a suspected Russian operation, a spokesperson said Monday.
1 mins
September 02, 2025
Listen
Translate
Change font size