Prime Minister Shri Narendra Modi, alongside dignitaries from Sri Lanka and Mauritius, inaugurated the launch of Unified Payment Interface (UPI) services in both countries via video conferencing.
Ease and convenience of spending has lowered the economy-wide cost of transaction. The resultant saving is triggering incremental spending. UPI is also enabling easier credit-driven household spending
According to information released by the National Payments Corporation of India (NPCI), the Unified Payments Interface (UPI) has surpassed the 100 billion dollar threshold.
Enhancing the payment limits for Unified Payments Interface (UPI), electronic mandates, setting up of cloud facilities, the financial sector and fintech repository were some of the major announcements made by the Reserve Bank of India Governor, Shaktikanta Das on Friday.
RBI proposes raising limit for UPI payments to educational institutions and hospitals yourstory.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yourstory.com Daily Mail and Mail on Sunday newspapers.