No transaction charge on UPI for users, small merchants: Sitharaman

Finance Minister Nirmala Sitharaman has clarified that no transaction charge will be levied on UPI transactions for users and small merchants. The statement comes after discussions around a potential transaction fee following amendments to Section 10A of the Payment and Settlement Systems Act, 2007. The clarification aims to address concerns over possible charges that could impact the widespread adoption of the digital payment system.