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RBI Guv Discusses Plans To Expand UPI Offerings

Inc42 · 10m

RBI Governor Shaktikanta Das held a meeting with major stakeholders of the unified payments interface (UPI) ecosystem to discuss strategies for expanding digital payment offerings. The meeting also focused on plans to scale up UPI infrastructure and address challenges faced by fintech players. The RBI sought innovative ideas to integrate potential users into the digital payments ecosystem. UPI continues to gain traction, recording 1,330 crore transactions worth INR 19.64 lakh crore in April 2024. PhonePe dominated the digital payments space, accounting for nearly half of the total transactions.