FM: Country's digital payments system an 'envy of the world'
BENGALURU, Sept. 17 -- Union finance minister Nirmala Sitharaman on Wednesday described India's digital payments system as a global success, amid a political row over the Centre's decision to introduce charges on some UPI transactions.
"As much as the digital is a success, you see the numbers of NPCI (National Payments Corporation of India), it's an envy of the world," Sitharaman said at the Eighth International Tax Conference in Bengaluru.
Her remarks came a day after the government faced opposition over the new UPI fee framework. The changes allow a 0.4% Merchant Discount Rate on merchant transactions above Rs.2,000, while smaller transactions and person-to-person payments remain outside the charge.
The government has said the framew...
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