The Hindu analysis: RBI can fund UPI, bill suggests fees
Business
Good news for anyone who loves paying with UPI: The Hindu's analysis says the RBI has enough financial muscle to cover UPI costs, so there's no need to charge users or merchants.
This comes just as a new bill suggests some UPI transactions might have fees, possibly ending the current "no-cost" setup.
Annual UPI costs 9,664-24,161 cr
The annual cost of running UPI is estimated at ₹9,664-₹24,161 crore, a small slice of RBI's earnings.
In 2025-26, RBI made ₹4.3 lakh crore and handed over ₹2.9 lakh crore to the government as surplus.
Even with UPI usage growing 425% in five years, RBI's surplus transfers jumped by 857%, showing they can easily fund UPI without passing on charges.