National Payments Corporation of India or NPCI is bating for a "reasonable incentivisation" on Unified Payments Interface (UPI) amid the ongoing debate on payments charges.
A recent Reserve Bank of India (RBI) paper sought suggestions from stakeholders on charging transactions made on UPI which are so far free of cost.
While the finance ministry clarified the government has no such plans, NPCI believes such incentives are needed to be able to invest back in the ecosystem and expand the market.
In an exclusive chat with CNBC-TV18's Ritu Singh, the MD & CEO of NPCI Dilip Asbe also hinted that the January 2023 deadline of imposing a 30 percent cap on UPI apps' market share may be reconsidered.
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