Prime Minister Narendra Modi on Monday hailed the 10-year journey of the Unified Payments Interface (UPI), describing it as a major milestone in India’s digital payments revolution and a symbol of the country’s growing digital capabilities.
Recalling UPI’s evolution over the past decade, the Prime Minister said the platform has transformed the way people make payments in their daily lives. From small transactions at local shops to large digital payments, UPI has made transferring money quick, convenient and accessible to people across the country.
PM Modi highlighted the role of UPI in promoting financial inclusion and bringing digital payment services to a wider section of society. The system has enabled people to make payments using mobile phones without the need for cash, making digital transactions increasingly common in both urban and rural areas.
He said the success of UPI reflects India’s ability to develop digital public infrastructure at a large scale. The platform has also gained international recognition, with several countries exploring or adopting systems that facilitate UPI-based digital payments and cross-border transactions.
The Prime Minister credited India’s citizens, entrepreneurs, banks, financial institutions and technology developers for contributing to the growth of the digital payments ecosystem. He said the journey demonstrates how technology and innovation can improve everyday life and create new opportunities for businesses and consumers.
Over the years, UPI has become an integral part of India’s digital economy, supporting instant bank-to-bank payments through mobile applications. Its ease of use, interoperability and round-the-clock availability have helped accelerate the shift towards a less-cash economy.
PM Modi said the next phase of India’s digital payments journey would focus on further expanding accessibility, strengthening digital security and taking Indian payment innovations to more parts of the world.
