Reserve Bank of India (RBI) Governor Sanjay Malhotra has clarified that he never stated that Unified Payments Interface (UPI) cannot remain free forever. Speaking at the post-RBI policy conference, Malhotra said, “I want to clarify that I never said UPI can’t remain free forever. There are costs, and these costs have to be paid by...
The government on Sunday dismissed as “untrue” a viral WhatsApp message claiming that the Reserve Bank of India (RBI) had directed banks to stop issuing Rs 500 notes through ATMs by September 30, 2025. It clarified that no such instruction has been issued and Rs 500 notes remain legal tender. The misleading message further alleged...