RBI Governor Sees Bright Future for UPI's Global Expansion

RBI Governor Shaktikanta Das expressed optimism about the Unified Payments Interface (UPI) expanding globally. UPI is already functional in several countries via QR codes and fast payment system linkages, with ongoing discussions expanding its reach. Collaborative international efforts highlight India's successful financial innovations.

Reserve Bank of India Governor Shaktikanta Das has expressed strong optimism regarding the future global expansion of the Unified Payments Interface (UPI).

Das, who is on a five-day visit to the state, pointed out UPI's presence in numerous countries through QR codes and fast payment system linkages. He mentioned that discussions are underway with several other nations to further its reach.

"We expect this to grow further at the global level and internationalise in future," Das stated during a press briefing on Friday evening. In an event held in Mumbai on Wednesday, Das highlighted significant progress in collaboration with countries like Bhutan, Nepal, Sri Lanka, Singapore, the UAE, Mauritius, Namibia, Peru, France, and others for the acceptance of RuPay cards and UPI-based payments. These efforts reflect the collaborative push to adopt India's financial innovations globally.

(With inputs from agencies.)