Mr. Sethurathnam Ravi throws insights into the revolution created by the UPI and the shift of India into the technological realm especially during the pandemic times. Unified Payment Interface is a digital innovation with an instant payment option developed indigenously by the National Payments Corporation of India (NPCI) and launched in 2016 in India. Sethurathnam Ravi According to S Ravi BSE , the popularity of UPI is evident, as it is accepted by tiny roadside shops to large brands as well as by small retailers to wholesale merchants. “The numbers speak for themselves. In the last 4 years from October 2018 to September 2022, the number of banks live on UPI has increased from 128 to 358. And the volume of the transaction has risen from 482 million to 6,781 million and transactions from Rs 74,978 crore to Rs 11,16,438 crore. This is significant proof of the success and growth of the UPI story”, Mr. Ravi adds. The main reason for this penetration as per the analysis of Mr. Sethurathnam...
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