Current Trends in Indian Economy
Expansion Unified Payment Interface (UPI)
▪ Reserve Bank of India (RBI) in collaboration with NPCI International Payments Ltd. (NIPL) is planning to expand the United Payment Interface (UPI) to 20 countries by 2028-29
Countries that accept UPI
✓ Bhutan
✓ France (E-commerce)
✓ Mauritius
✓ Nepal
✓ Singapore
✓ Sri Lanka
✓ UAE
About United Payment Interface (UPI)
▪ Launch – April 11, 2016
▪ A system that powers multiple bank accounts into a single mobile application.
▪ Launched by – National Payments Corporation of with 21 member banks.
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