Banks asked to stock ATMs before UPI fees?
A recent claim that Indian banks had been instructed to stock ATMs with extra cash before the introduction of UPI fees has been dismissed as false by the government. This assertion was made following the viral spread of a newspaper headline stating that banks were asked to prepare for increased cash demand due to the upcoming UPI fees.
The Government Fact Check, known as PIB Fact Check, confirmed that neither the Reserve Bank of India (RBI) nor the Finance Ministry had issued any such directives. The circulated headline claimed preparations were being made for higher cash demand due to the introduction of charges on certain UPI transactions.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
