<h1>Central bank rules out UPI charges, reviews proposal to let lenders remotely lock EMI-financed phones while weighing privacy, growth</h1> Central bank officials stated there is no proposal to impose charges on UPI transactions and that a proposal to permit lenders to remotely lock mobile phones purchased on credit in cases of EMI default is under examination. Regulators are weighing pros and cons, including consumer rights, data privacy and creditor recovery, before taking a view. They also indicated falling inflation provides room for monetary easing, the central bank does not target a specific rupee level but seeks to check undue volatility, and GDP growth forecasts for the current fiscal have been revised upward.