At first they would offer free service. Next they would encourage us or force us to use the service. If that doesn't work they will start the emotional game that you are helping in the development of the nation. In the end when you form a habit to use the service they start charging you for it.
Any UPI transaction of more than INR 2000 will be charged 1.1% , starting 1st of April.
Source.
They wanted to digitalize India but they never disclosed the hidden agenda. Now some of you would say it for the cost maintaining the servers. Do you think such an excuse can be given by a Bitcoin miner? Another reason why government cannot beat the Bitcoin ecosystem is that there is nothing hidden and nor the ecosystem allows you to hide.
Any UPI transaction of more than INR 2000 will be charged 1.1% , starting 1st of April.
Source.
They wanted to digitalize India but they never disclosed the hidden agenda. Now some of you would say it for the cost maintaining the servers. Do you think such an excuse can be given by a Bitcoin miner? Another reason why government cannot beat the Bitcoin ecosystem is that there is nothing hidden and nor the ecosystem allows you to hide.
It seems that the information was misleading and clarification has been provided by NPCI.
The 1.1% charges are applicable only to Prepaid Payment Instruments (PPI wallets).
There are no such charges for the customers and merchants and it will continue to remain free to use.
Source: https://www.moneycontrol.com/news/business/startup/bank-transactions-through-upi-continues-to-be-free-for-customers-and-merchants-npci-10331791.html
You are correct NPCI came out with the clarification later on but I don't think they would provide UPI service for free for a long time. I suspect after the central election we will get to hear about it.
