Team Blitz India
NEW DELHI: External Affairs Minister S Jaishankar recently highlighted India’s remarkable progress in digital payments. He noted that the country now conducts transactions worth Rs 120 crore per month through the Unified Payments Interface (UPI). In contrast, he pointed out that in the US, digital transactions amount to only Rs 40 crore per year.
Speaking at an event in Bikaner, Jaishankar emphasised, “Today, we do cashless payments through UPI. We have transactions worth Rs 120 crore in a month. While the US makes digital transactions worth Rs 40 crore in a year. You should see how we have progressed in some areas and the world commends that.”
The UPI is a platform that consolidates various bank accounts into a unified mobile application. Launched on April 11, 2016, by the former governor of the Reserve Bank of India (RBI), Raghuram Rajan.
