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Online Money Transfer: Recently there was a study on this. Which raised the issue of additional charges in UPI transactions.
 

Online Money Transfer: The advent of UPI has completely changed the way money is sent in the country. People of the country are showing interest in this online money transfer (UPI Transaction) instead of cash. Recently, a survey was conducted on this. Which raised the issue of additional charges in UPI transactions.

75 percent of people will stop using UPI
UPI has quickly gained ground in India. This convenient means of money transaction has now spread all over the country. Besides, many countries of the world are also adopting this system. UPI transactions are increasing every month. This has reduced people's use of cash. This time in a survey, surprising information has come out. According to this, if the UPI transaction fee is charged, about 75 percent will stop using it.

No fees allowed on UPI transactions
Based on a local circle report, Business Standard claimed on Sunday, customers cannot charge any fees on UPI transactions. According to the survey, about 37 percent of people spend 50 percent of their total spending through UPI. The use of credit cards and debit cards has also decreased in digital transactions. According to the report, only 22 percent of people are willing to pay fees for UPI transactions. But more than 75 percent are strongly against it. In this survey, about 42 thousand people of 308 districts were asked about this issue.

UPI transactions and transaction volume doubled
According to data from the National Payments Corporation of India (NPCI), the number of UPI transactions increased by 57 percent and transaction volume by 44 percent in the financial year 2023-24 compared to the previous financial year. . UPI transactions crossed 131 billion for the first time. In the financial year 2022-23 this number was 84 billion. In value terms, the figure reached Rs 199.89 trillion in the last fiscal year, up from Rs 139.1 trillion in the 2022-23 fiscal year.

The report will be sent to the Ministry of Finance and RBI
The survey was conducted online between July 15 and September 20. According to the survey, UPI has quickly become an integral part of the lives of 4 out of 10 users He is strongly opposed to direct or indirect fees of any kind. It will also provide the results of the survey to the Finance Ministry and the Reserve Bank of India (RBI), the survey said.