India’s UPI Takes World by Storm: Anurag Thakur
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Shimla, 1 September 2024: Former Union Minister and Hamirpur MP, Shri Anurag Singh Thakur, praised India’s Unified Payments Interface (UPI), describing it as the world’s largest and most user-friendly digital transaction platform. He credited the Modi government’s initiative for making banking accessible to the masses. According to data, UPI handles 3,729 transactions per second, with ₹81 lakh crore transacted between April and July 2024.
Shri Thakur highlighted the transformative impact of UPI on India’s financial landscape, particularly in bridging the gap between urban and rural financial services. He noted that UPI has become a global model for financial inclusion, emphasizing its role in simplifying transactions and banking services across India. He also pointed out that the volume of transactions through UPI increased by 37% year-on-year, reflecting its growing adoption and success.
He further criticized opposition leaders who once mocked UPI and Digital India, stating that today, these initiatives have empowered ordinary citizens, including small traders and vendors. Thakur emphasized that India’s digital payment ecosystem, especially UPI, is now a model for the world, with ongoing efforts to link UPI with other countries’ fast payment systems for cross-border transactions.
India’s Unified Payments Interface (UPI) is like a magic wand for money matters—it’s changed the game at home and now it’s turning heads globally. Anurag Thakur highlighted how UPI’s smooth setup and easy-to-use features have opened up digital payments to millions, making life simpler. It really shows off India’s tech skills and its dedication to including everyone financially. Now, other countries are peeking over the fence, thinking about jazzing up their own payment systems after seeing UPI’s success.
Thakur really hit the nail on the head talking about how big of a deal this is worldwide!