New Delhi, Sep 16 – Congress leader Supriya Shrinate said on Wednesday that reports of shops in Delhi’s Chandni Chowk market stopping UPI payments were likely to spread, citing concerns about additional transaction fees.
Shrinate told IANS that if merchants impose extra charges, consumers will revert to cash, and that the UPI system was designed to avoid such costs. She warned that the shift could undo the benefits of digital payments.
She noted that after demonetisation, the economy held Rs 17 lakh crore in cash; today it exceeds Rs 40 lakh crore, more than double, indicating a growing cash reserve that could be used if UPI fees rise.
Shrinate also questioned the government’s motives, alleging that decisions were influenced by US companies and that the administration was acting under external pressure.
In response, the government announced that banks cannot charge UPI transactions up to Rs 2,000, and a gazette notification prohibits fees on RuPay debit card payments of the same amount. The Finance Ministry dismissed claims that the change was driven by foreign influence, affirming that digital payment policy is set independently.
The statements were reported by IANS.
