New Delhi, October 1, 2025: Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday dismissed speculation that citizens may be charged for using Unified Payments Interface (UPI), assuring that no such proposal is under consideration. His clarification comes amid widespread concerns over possible fees on the digital payment system that has become a backbone of everyday transactions.
Malhotra expressed confidence in India’s economic prospects, highlighting that the nation continues on a “very high growth trajectory” while managing price stability. The RBI has projected India’s growth at 6.8% for the current fiscal year, reinforcing its position as one of the world’s fastest-growing major economies.
However, the Governor noted that while the outlook is strong, it remains below the country’s broader aspiration of touching the 8% growth mark.
In his address during the fourth bi-monthly monetary policy review, Malhotra also announced a proposal to allow banks to finance acquisitions by Indian corporates under a structured framework. The initiative is expected to strengthen banks’ role in capital market lending and support corporate expansion strategies.
