Mumbai: RBI Governor Sanjay Malhotra emphasized that the sustainability of digital payment systems like UPI requires someone to bear the associated costs, dismissing the notion that UPI can remain free indefinitely. Malhotra stated, “I never said UPI can remain free forever,” highlighting that operational costs exist and must be funded. He noted that who pays—whether banks, merchants, or users—is less critical than ensuring the system’s financial viability.
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