Did government order banks to stock ATMs ahead of UPI charges? Here’s what PIB said
- Posted on September 23, 2026
- By Business News Today
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Did government order banks to stock ATMs ahead of UPI charges? Here’s what PIB said
A newspaper clipping claiming banks were told to increase ATM cash stocks ahead of UPI fees has circulated online, prompting a government fact check. PIB said neither the RBI nor the Finance Ministry issued such an instruction. The clarification comes as a revised UPI framework introduces MDR for specified higher-value merchant payments, while keeping P2P transactions and most merchant payments free.
