Key Points
The Reserve Bank of India (RBI) in its monetary policy committee (MPC) meeting said that now individuals can make payments from prepaid payment instruments like digital wallets using UPI that too through any third party app..
RBI Governor Shaktikanta Das has said wallet holders no longer have to depend upon the PPI wallet issuer in order to make UPI payments, rather individuals can use any third party app in order to transact using unified payment interface (UPI)...
RBI Governor Shaktikanta Das said, "At present, UPI payments from bank accounts can be made by linking a bank account through the UPI App of the bank or using any third-party UPI application..
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No charge on normal UPI payment; interchange fee applicable for PPI merchant transactions: NPCI
29, Mar, 23NPCI has permitted the PPI wallets to be part of interoperable UPI ecosystem and levied 1.1 per cent charge on unified payment interface (UPI) transactions above Rs 2,000 while using PPI.