According to Union Finance Minister Nirmala Sitharaman, who was quoted by news agency ANI, the Central government does not believe that the moment is suitable to introduce fees for digital payments. She recommended that consumers have unrestricted access to digital payments to boost the Indian economy.
“Digital payments are viewed as a public good by the Centre. In our opinion, access should be unrestricted so that the Indian economy may benefit from digitalization. Through digitalization, we may also attain a certain amount of transparency. “The Finance Minister made this statement when speaking at this event.
Added she, “We (Centre) continue to think that the timing is ripe to introduce fees for digital transactions. Every citizen is encouraged to use digital platforms and transactions since they can provide excellent access. The RBI advises using a working paper and leaving it in its current location.”
She made her statement as the Reserve Bank of India (RBI) sought public input on a number of proposed fees for the payments system, including the idea of applying tiered fees to t
In terms of fund transfer systems, UPI and IMPS are identical. Hence it may be argued that UPI fund transfer transaction fees ought to be on par with IMPS fund transfer rates. The Central government announced last week that it would not charge any fees for using UPI.

“UPI is a digital public benefit that increases economic activity while providing the people with tremendous convenience. The administration is not thinking about charging for UPI services. Concerns about cost recovery raised by the service providers must be addressed in other ways, “Sitharaman earlier tweeted.