The Governor of the Reserve Bank of India (RBI), Shaktikanta Das, held a crucial meeting on Wednesday with key stakeholders in the Unified Payments Interface (UPI) ecosystem. This inclusive gathering brought together representatives from banks, the National Payments Corporation of India (NPCI), Third Party Application Providers and Technology Service Providers, along with Deputy Governor T. Rabi Sankar and other senior officials of RBI.
The primary agenda of the meeting was to discuss potential strategies aimed at further expanding the reach and usage of UPI. “There were wide-ranging discussions on various aspects to widen and deepen the adoption and usage of UPI,” RBI said in a release.
The stakeholders shared their valuable inputs and suggestions, covering broad topics like- strategies to scale up the UPI infrastructure and diversify the product portfolio, challenges being encountered by the ecosystem and innovative solutions for addressing the same; and innovative ideas to integrate potential users into the digital payments ecosystem.
RBI also informed that the suggestions received will be examined and suitable action will be initiated in due course by the bank.
Launched by NPCI, UPI offers a seamless and instant payment experience to users across the country and has revolutionised the way people transact.
