RBI Governor Sanjay Malhotra said a small merchant discount rate fee on UPI transactions above Rs 2,000 will not significantly impact volumes. He also stated the rupee may be undervalued and the RBI will ensure stability and orderly movement. Banks raised nearly USD 133 billion under the FCNR(B) scheme, and the current account pressure is temporary.
RBI Governor: Small UPI Fee Won't Hit Volumes
Source: Telegraph India