India’s UPI Takes World by Storm: Anurag Thakur

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.