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flag India's central bank keeps interest rates steady, maintains zero UPI fees, and forecasts strong growth with low inflation.

flag On October 1, 2025, Reserve Bank of India Governor Sanjay Malhotra confirmed no plans to charge fees on UPI transactions, maintaining the platform’s zero-charge model. flag The RBI kept the repo rate at 5.5%, raised the fiscal year 2026 growth forecast to 6.8%, and projected inflation at 2.6%. flag Malhotra noted declining inflation, signaling potential for future rate cuts, while emphasizing the central bank’s focus on preventing rupee volatility without targeting a specific exchange rate.

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