RBI guv meets stakeholders to further widen UPI reach

WITH as much as four-fifths or over 80% of all digital transactions taking place through the UPI platform that has grown exponentially to the tune of 90 times in the past decade, the Reserve Bank Governor Shaktikanta Das and T Rabi Sankar, his deputy in-charge of the payments department, on Wednesday met with all the major stakeholders in the payment ecosystem to discuss potential strategies and challenges to further expand its reach.

The major stakeholders in the payments systems include banks, the National Payments Corporation (NPCI), third-party application providers and technology service providers, the central bank said in a press release late this evening.

Apart from the governor and the deputy governor in charge of the department, the meeting was also attended by other senior officials of the monetary authority.