India, Oct. 1 -- Reserve Bank of India (RBI) governor Sanjay Malhotra today reiterated that there is no proposal before the central bank to make UPI payments chargeable.

"Is there going to be charges on UPI? Well, there is no proposal before us," Malhotra said during the post-monetary policy committee (MPC) press conference.

This is the second time that the RBI governor has spoken on the matter in the past three months. In July, Malhotra had flagged sustainability concerns related to free UPI payments, saying that "someone" would have to pay the costs associated with these online payments.

"Who pays is important but not so (as) important than (as) someone footing the bill. So, it is important for us for the sustainability of the model,...