Banks Told To Stock ATMs Ahead Of UPI Charges, PIB Calls Viral Claim Fake

A newspaper clipping falsely claimed that banks had been instructed to stock ATMs ahead of new UPI merchant charges. The Press Information Bureau (PIB) Fact Check has dismissed this as a fake claim, stating neither the Reserve Bank of India (RBI) nor the Finance Ministry issued such an instruction. The clipping, with the headline "Banks asked to stock up ATMs ahead of UPI fees," suggested banks were preparing for increased cash withdrawals due to the introduction of charges on some digital payments.

However, PIB Fact Check clarified that the claim was inaccurate and did not reflect any change to ATM cash arrangements. The revised UPI payment framework maintains free person-to-person transfers, regardless of the amount, and also exempts merchant payments up to Rs 2,000 from merchant discount rate (MDR). Additional payments to small merchants above Rs 2,000 remain within the zero-MDR framework.

PIB Fact Check emphasizes that the headline's claim, that banks were instructed to restock ATMs, is false, and advises people to verify such claims with official government and RBI announcements.