India’s UPI has created a stir in the world: Anurag Thakur

Former Union Minister and Hamirpur Lok Sabha MP Shri Anurag Singh Thakur has praised the Digital India initiative launched by the Modi government to promote digital and cashless transactions in India, ease the way of payments and promote the fintech sector. Unified Payments Interface (UPI) has been described as the world’s largest and easiest medium of digital transactions, which has made banking easy for the masses. According to statistics, 3729 transactions are done every second through UPI, 81 lakh crore between April-July A transaction of rupees has taken place.

Shri Anurag Singh Thakur said, “The changes taking place in India’s financial technology landscape are actually having a social impact as well. Due to the policy of the respected Prime Minister Shri Narendra Modi to promote Fintech, today it is reaching the informal economy and rural areas. It is helping to bridge the gap in financial services between rural and urban areas. Today India’s Unified Payments Interface (UPI) has become the world’s largest platform for digital transactions. UPI was launched in the year 2016 by the Modi government. Digital transactions in India have become extremely easy. India has made remarkable progress in digitizing banking services including transactions and according to the data received, the Unified Payments Interface (UPI) has increased the number of digital transactions in the period from April to July this year. Transactions worth more than Rs 81 lakh crore have taken place. There has been an increase of 37 percent on an annual basis. According to the data, 3,729.1 transactions are taking place per second through UPI. In 2022, this figure was 2,348 transactions per second. During this period, transactions through UPI have increased by 58 percent. Platforms developed by India are becoming models for the world today and UPI has made a strong identity for itself as a financial inclusion platform for the whole world.

Shri Anurag Thakur said, “Congress leaders once used to make fun of UPI and Digital India, but today the same Digital India has become the power of the common man. Today even fruit and vegetable vendors are doing transactions through UPI. Congressmen are boasting of the capabilities of the people of India. People used to doubt them and make fun of them. It was openly said that poor people will not be able to understand the meaning of digital. But Modi government had faith in the common humanistic understanding of the country. Modi government itself has come forward and made the way of digital payments easier. As per the thinking of the Prime Minister, be it small traders, small entrepreneurs, local artists or artisans, Digital India has given a platform to everyone. Digital India has made all work accessible, this is a huge vision for the development of the country.

Speaking further, Shri Anurag Thakur said, “India is at the top in terms of digital transactions in the world. Here around 40 percent of the transactions are done digitally. People are using UPI the most to make digital payments. India The Government is working towards enabling merchants to accept payments through UPI QR code internationally and to integrate UPI with faster payment systems of other countries for cross border payments.”