RBI Governor in talks to amplify UPI system for innovative Payment solutions
Governor of Reserve Bank, Shaktikanta Das examined with banks and different partners about ways of increasing the UPI system, extend products and promote innovative payment methods for the seamless operations.
UPI - Unified payment interface is a moment constant payment framework created by the NPCI – National Payments Corporation of India to work with inter-bank exchanges through cell phones.
Shaktikanta Das held a meeting on Wednesday with significant partners in the UPI system including banks, NPCI, external application suppliers & technology specialists to inspect likely systems for the additional developing scope of UPI operations.
The discussions comprehensively concealed procedures for scaling UPI system and extending product portfolio, and difficulties being experienced by the system and creative answers for tending to something similar.
The thoughts & plans conversed in the meeting to coordinate likely with the clients into the advanced payments transaction ecosystem for simplified transactions.
The meeting also saw participation from by RBI deputy governor T Rabi Sankar and other senior authorities of the national bank.
Pertaining to this, the official statement from the bank states, “There were wide-ranging discussions on various aspects to widen and deepen the adoption and usage of UPI. The stakeholders shared their valuable inputs and suggestions”.
