RuPay and UPI India’s achievement, RBI Governor stresses on the need for their globalization
UPI RuPay & RBI Governor Shaktikanta DasReserve Bank of India (RBI) Governor Shaktikanta Das said that India should take the G20 presidency to present its e-payment story to the world and internationalize products like UPI and Rupay. should be used.
Inaugurating the Payment System Operators (PSO) conference, Das said that India’s indigenous payment products like UPI and RuPay network are increasing their global presence and will facilitate cross-border payments.
He said, under the Reserve Bank’s Payments Vision 2025, we are committed to the goal of ‘e-payments for everyone, everywhere, every time’. We must take advantage of every opportunity to internationalize our payment products. It will open a whole new world. Opportunities will be ready for our country. This is the year of India’s presidency of the G20. Let us tell the story of India to the whole world.
The governor further said that with the Indian economy increasingly getting integrated with the global system, cross border payments have become more important. He said that our domestic payment products like UPI and Rupay network are increasing their global reach. The launch of UPI integration with Singapore’s Penau is a major step in this direction. (with language input)