> Running Payment infrastructure have a cost for banks. somebody has to pay for it though taxes or fees.

Then don't hail UPI as a universal payments alternate, its just another interface; in long lines of PayPal, Stripe, etc. and still behind.

> RBI is a statutory institution that is answerable to Elected Govt what are you expecting?

It has (in paper) authority, independence, and accountability to 'manage all banks', set policy/interest rates, and maintain financial stability across all nations; practically butchered by the FC. I expect that they don't. Answerable? More like a puppet. Hypocrisy: Miss out a few EMIs on your home/car loan and see what happens. Big names (Modi, Mallya, etc.) have dues of thousands of crores, what's up with that? Just leave India and you are free?

> Supreme court regularly oversteps its limits and plays govt

SC can't (and don't) oversteps its limits -- it does what it has power to do so and it has finite written specifications on what it can and cannot do (the constitution). SC can't play govt. It keeps a check on the govt. Who keeps check on the govt. then? Media? Public? Freedom of speech? Why did the Law da minister (Kiren Rijiju) gets removed by the upper management? The biggest disadvantage of a highly majority won govt. (& weak opposition) made them fascists.

> This wouldn't affect poor at all.

Absolutely, because poor don't use UPI at all. To middle-class, it will. example: street vendor (food/veggies/general store): a monthly customer will always go above 2k (1% of 2k is 20 INR - straight to govt. which was previously zero). How would you track 69 transactions of <2k each bypassing your taxes?

> Cryptocurrencies are a grift and Govt is right to ban it.

Thanks for showing your non-technical background and illiteracy toward cryptocurrencies. And, 'grift' is not the word you are looking for.

> gov has done a good job as far as fiscal health and Currency stability

Good fiscal health? Just look at numbers of fiscal deficits, increasing debts, declining revenue collections, etc. Inflation, taxes, and interest rates on end-users are on all time high. RBI saying good fiscal health, okay. FDI, which current regime opposed back in UPA govt., has become a better source of income for current government. CMs can be seen begging to foreign investors every now and then. Import duty on electronics from China/Taiwan/Korea/Japan is all time high, and so is their usage (costing only public). This 40% import duty backfiring progress at least a decade, Apple just now has one store in entire India. EVs (Tesla) refused to come to India, till now. Don't count progress that could have been years ago. Agriculture sector has reduced to <20% from ~60% in 15 years. Black money? Better luck after reincarnation. Now, its time to sell every fking govt. owned institutions, from Navratna-like companies, to telecom companies. And, so are ports/railways/roads, costing end-user more toll-taxes just for usage (Pvt. companies will get more revenue than they invested in, from public). Ideas of bullet trains? Comes down to a few Vande-Bharats; most of railways crying. Unnecessary expenses, ridiculous taxes, absurd economic policy, etc. The govt. is carried by religious majority and will continue to do so.

Currency stability? Refers to the ability of a currency to maintain its value or exchange rate over time. Compared to US (20 years), its down 49% and currently along sides of all time highs. Don't argue me on whataboutism here. For rapidly developing countries (e.g. India), it should be negative ideally.

You caught me on a good mood this weekend. Constructive criticisms. No violence.