Bengaluru: Reserve Bank of India (RBI) Governor Shaktikanta Das expressed optimism about the future growth and global expansion of the Unified Payments Interface (UPI) during a recent press briefing. Das, who is currently on a five-day visit to a state, highlighted the ongoing discussions with several countries to extend UPI’s reach through QR codes and fast payment system linkages.
“We expect this to grow further at the global level and internationalise in future,” Das stated on Friday.
Das emphasized that these developments reflect the collaborative efforts aimed at global adoption of India’s digital payment initiatives.
On August 26, Reserve Bank of India (RBI) Governor Shaktikanta Das revealed plans to launch the ‘Unified Lending Interface’ (ULI) technology platform across India. Initially introduced as a pilot project last year, the platform is set to provide “frictionless credit” on a national scale.
Speaking at the Global Conference on Digital Public Infrastructure and Emerging Technologies in Bengaluru, Das highlighted the transformative potential of ULI, comparing its impact to that of the Unified Payments Interface (UPI) in the payments sector. “Just like UPI transformed the payments ecosystem, we expect that ULI will play a similar role in transforming the lending space in India. The ‘new trinity’ of JAM-UPI-ULI will be a revolutionary step forward in India’s digital infrastructure journey,” he said, as reported by ANI.
