New Delhi, Oct. 1 -- Reserve Bank of India (RBI) Governor Sanjay Malhotra confirmed on Wednesday that there is no current proposal to levy any charge on transactions made via the Unified Payments Interface (UPI).

The RBI governor's remarks came during a post-monetary policy press conference when he directly addressed the question of potential charges on UPI, a system whose transaction volumes have soared recently.

"Is there going to be charges on UPI? Well, there is no proposal before us," he stated, quashing speculation on the matter.

In a separate development, Governor Malhotra also disclosed that the central bank is currently examining a proposal that would permit lenders to remotely disable or 'lock' mobile phones bought on credit ...