INDIAN ECON, POLITICS, SOCIETY + BTC PRICE

[eaLiTy]

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You are advocating for gov to keep funding UPI but at the same breath you are asking them to voluntary dent on their revenue source (Approx 25%-30% for states and centre respectively)? You can't have your cake and eat it too.

I have a curious query. Who funds the printing and distribution of currency? It is way bigger than the subsidy being provided for UPI. The RBI funds that, and if the government is proactively encouraging everyone to shift to digital transactions, they need to have a bigger stake in the game when it comes to footing the bill. 

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Meanwhile there has been increased probe on the Kolkata rape-murder case of August 2024, two MLA have been jailed, but I think its just eye wash, the CBI is not doing a proper investigation at all.

I think the investigation and the arrests are steps in the right direction, as the arrested MLA was involved in destroying the body before a second autopsy could happen. The main problem with the CBI investigation is that they did not get proper evidence from the start. I believe political involvement destroyed a lot of the evidence early on.

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That's quite a relief to be honest but I still think that the government might slowly bring it to the consumers as well.

If history teaches us one thing, it is that a temporary income tax with a statutory period of only five years to recover from war losses can easily become permanent. Once the promised five-year period ends, the government simply implements a law to make income tax permanent. I won't be surprised if consumers share the bill in the future when we reach a point of no return from paper currency.

[Cointikka]

And they again did it! Kerala has a new name now: Keralam. They passed the bill in the August 2026 parliamentary session. Why so much secrecy? I do not follow mainstream media, so I do not know whether it was announced to the public. Since 2014, after Modi came into power, this government has changed the names of states and districts.

[JSRAW]

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You are advocating for gov to keep funding UPI but at the same breath you are asking them to voluntary dent on their revenue source (Approx 25%-30% for states and centre respectively)? You can't have your cake and eat it too.

I have a curious query. Who funds the printing and distribution of currency? It is way bigger than the subsidy being provided for UPI. The RBI funds that, and if the government is proactively encouraging everyone to shift to digital transactions, they need to have a bigger stake in the game when it comes to footing the bill.  

Yes, RBI does that and RBI is owned and funded by gov, which comes under finance ministry.

Gov does take care of the funding and they should continue to do the same but this should go into innovation and strengthen the existing UPI model like security or somewhere else. For day to day operational cost it shouldn't be dependent on gov funding, which is the case atm.

Treat this as a strategic asset which is a market balancer and gives you a digital payment Sovereignty. Back it completely similar to BSNL and doing so try your best to make it self sufficient so that it can atleast pay it's day to day bill and in future possible some self funded projects too.

[Cointikka]

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While you guys keep debating whether UPI charges are justified or not. Israel is going to roll out UPI very soon, as per this news article. This announcement, on which this article was based, was made by Israel's ambassador to India on X. A moment of pride for every Indian who has been using this fintech and for the country.

[JSRAW]

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While you guys keep debating whether UPI charges are justified or not. Israel is going to roll out UPI very soon, as per this news article. This announcement, on which this article was based, was made by Israel's ambassador to India on X. A moment of pride for every Indian who has been using this fintech and for the country.

Israel isn't first and won't be a last. 8-9 countries already integrated or in process on including UPI into their system and numbers will only go up.

Although, atm it's mostly used by Indian origin folks, travelers, expats and maybe some foreign traders as well.

[Bitcoin Smith]

That's quite a relief to be honest but I still think that the government might slowly bring it to the consumers as well.

However it does not seem from initial articles that any fees will be borne by the customers.

Even the fees are not directly paid by the consumers, the sellers will simply increase the price in accordance with the charges collected on the product and we are going to pay it ultimately. We still have the same issue with credit cards in our country, there are some individual big outlets deny credit card payments or they will ask us to pay 1.5 to 2% transaction fee that is not really our responsibility to pay but we have to pay or we can't use credit cards. I don't want the same kind of situation for UPI too in the future.

[pawanjain]

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That's quite a relief to be honest but I still think that the government might slowly bring it to the consumers as well.

If history teaches us one thing, it is that a temporary income tax with a statutory period of only five years to recover from war losses can easily become permanent. Once the promised five-year period ends, the government simply implements a law to make income tax permanent. I won't be surprised if consumers share the bill in the future when we reach a point of no return from paper currency.

Call it plastic currency because that's how its gonna be. India is planning to roll out plastic currency for 10 rs and 20 rs notes by mid of next year.
They are going to use polymer for these new notes which will replace existing paper currencies and are expected to have 2x - 4x times life span than paper currencies.
The initial trial will cover around 1 billion notes, well, that's a lot but considering the volume used on daily basis I guess it must be required.