The government on Wednesday said claims that banks across India had been instructed to stock ATMs with additional cash ahead of the rollout of UPI fees are false. The clarification came after a LiveMint newspaper clipping carrying the headline "Banks asked to stock up ATMs ahead of UPI fees" circulated online, with PIB Fact Check stating that neither the Reserve Bank of India (RBI) nor the Finance Ministry had issued such instructions.
The circulating clipping claimed that preparations had been sought for higher cash demand because charges were being introduced on certain UPI transactions. PIB Fact Check marked the headline as fake and urged people to report suspicious content related to the Central Government through its fact-checking service.
What the viral ATM claim said
The claim emerged amid changes to the UPI framework covering certain merchant transactions. However, the government said there was no directive from either the RBI or Finance Ministry asking banks to increase ATM cash stock ahead of the new framework.
The clarification specifically concerned the headline circulating in the newspaper clipping and did not indicate any change in the government's position that consumers will not be charged transaction fees for UPI payments.
