Government Initiatives Boost Global Reach of UPI and RuPay

Minister of State for Finance, Pankaj Chaudhary, announced that the government and RBI are working to expand the global reach of UPI, now available in seven nations. The RBI’s Payments Vision Document 2025 emphasizes this goal. Efforts are also being made to increase RuPay card usage and integration with UPI.

Minister of State for Finance, Pankaj Chaudhary, announced on Tuesday that the government and the Reserve Bank of India (RBI) are actively expanding the global reach of the Unified Payments Interface (UPI), which is now available in seven countries.

According to Chaudhary, the RBI’s Payments Vision Document 2025 outlines the expansion of UPI and RuPay card internationalization as a key objective. The government and RBI continue to collaborate with central banks, the Bank of International Settlements, the World Bank, and other institutions to achieve this goal.

Currently, UPI is operational in Bhutan, Singapore, the UAE, France, Mauritius, Sri Lanka, and Nepal. Additionally, efforts are underway to promote the use of RuPay cards, particularly in Tier-II and Tier-III cities, with the recent integration of RuPay credit cards with UPI aiming to provide more convenient payment avenues for customers.