Under the Digital India initiative, Indian government is not leaving no stone unturned. Taking Indias G20 Presidency as an opportunity to showcase the countrys digital public goods, besides explaining them about ease of making payments through the indigenous solution, the central government has decided to provide hands-on experiences to over 1,000 visiting foreign delegates with UPI wallets technology.“Foreign delegates or participants will be given Rs 500-1,000 in their UPI wallets for doing UPI transactions,” a government official told ANI, adding it has earmarked around ₹10 lakhs for it.G20: India to provide hands-on UPI experience to visiting delegatesRead @ANI Story | https://t.co/7sY4cYrYRr#UPI #G20 #G20India #G20Summit #NewDelhi pic.twitter.com/ijahABkiv0— ANI Digital (@ani_digital) September 6, 2023Notably, India has come out as one of the fastest-growing ecosystems for fintech innovation and the government and the central bank have been playing an important role in driving the globalisation of Indias digital payment infrastructure. With this, the Indian government has ensured that the benefits of UPI are not limited to India only, but other countries, too, benefit from it.So far, Sri Lanka, France, UAE, and Singapore have partnered with India for the UPI platform.How UPI is helpfulUnified Payments Interface (UPI) is Indias mobile-based fast payment system, which helps the user to make round-the-clock payments instantly via Virtual Payment Address.The system for making payments has become hugely popular for retail digital payments in India, and its adoption is increasing at a rapid pace.
