Govt cuts outlay for UPI, RuPay incentive scheme by nearly 10%
Mumbai: The central government has cut the outlay for an incentive scheme for transactions undertaken on the Unified Payments Interface (UPI) and homegrown card network RuPay platforms by nearly 10% for the next financial year.
Even as transaction volumes for both UPI and RuPay have continued to rise, the outlay announced in the budget on Sunday has been cut to ₹2,000 crore for FY27, compared to ₹2,196 crore in FY26 (revised estimate).
