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RBI holds meeting with stakeholders in UPI ecosystem, aims to scale up UPI infrastructure

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The main players in the UPI ecosystem, including banks, the National Payments Corporation of India (NPCI), third-party application providers, and technology service providers, met today to discuss possible ways to broaden the use of UPI. The meeting was presided over by Reserve Bank of India Governor Shaktikanta Das. Numerous topics were covered in depth in order to increase UPI’s acceptance and utilisation. The stakeholders covered three main issues with their insightful comments and recommendations. These included tactics for growing the product line and scaling up the UPI infrastructure, creative ways to incorporate new users into the digital payments ecosystem, and problems facing the ecosystem and their creative solutions. The numerous recommendations we’ve received will be reviewed, and appropriate action will be started when the Reserve Bank decides.

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