New Delhi, Aug. 7 -- A day after India's finance minister Nirmala Sitharaman introduced the Taxation and Other Laws (Amendment) Bill in Parliament proposing changes to the Payment and Settlement Systems Act of 2007 that would let banks and payment system providers charge fees on UPI and RuPay debit-card payments, Reserve Bank of India (RBI) Governor Sanjay Malhotra made a pointed reference to such fees.

In response to a question posed at RBI's post-policy conference, he pointed out that costs have to be borne by someone.

"Ultimately, it is the consumer, in some way or the other, who is paying [for] it already. It may not be the same consumer, it may be the general economy, and you don't get to see it directly. Somehow, it is already get...