It will be prudent for the Govt to withdraw this. Ashneer is correct in pointing out the cash with NPCI. Many of these govt instituions are sitting on huge cash but that never causes their product or service prices to come down. Individual company profit centers in Govt and few people managing that is never a great practice. It is the peoples money. Give it back through services.
Bhai Chandra sahab ke ₹22,000 crores maaf nahi karte to India mein UPI agle 20 saal tak free chal jaata by government’s number of ₹8,000 crores subsidy.
Also NPCI - which runs UPI has ₹6,119 hard cash on its balance sheet and pre tax operating profit of ₹1,900 crores. NPCI apne cash pe and profits par zindagi bhar UPI free chala sakti hai. Government ka kuchh lena dena hi nahi hai. Government earned ₹1,000 crores tax from NPCI last year.