UPI Triumph: A Global Revolution in Real-Time Transactions

Prime Minister Narendra Modi celebrates the remarkable global success of India's Unified Payments Interface (UPI). Initiated in 2016, UPI now handles 50% of the world's real-time transactions. As UPI expands to new countries, it significantly impacts financial sectors globally. Modi also highlights the PM Mudra Yojana's role in promoting small enterprises.

Prime Minister Narendra Modi emphasized the international success of India's Unified Payments Interface (UPI) on Friday, noting that it now handles half of the world's real-time financial transactions.

Speaking during the nation's 79th Independence Day celebrations at Red Fort, Modi labeled UPI a 'wonder to the world,' underscoring its role in India's self-reliance. Since its 2016 inception, UPI has witnessed exponential growth and global adoption.

NNPC's UPI service, initially for local retail and settlement transactions, records massive transaction values and widespread international presence. Modi also advocated the PM Mudra Yojana, highlighting its benefits for small businesses and job creation by providing collateral-free loans.

(With inputs from agencies.)