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RBI Coming Up With New Steps To Expand UPI Outreach

The stakeholders shared their suggestions on strategies for scaling up of UPI infrastructure and expanding the products portfolio.

RBI Coming Up With New Steps To Expand UPI Outreach File Photo

New Delhi: RBI Governor Shaktikanta Das on Wednesday held a meeting with major stakeholders in the UPI ecosystem including banks, National Payments Corporation of India (NPCI), third party application providers and technology service providers during which potential strategies for further expanding the reach of UPI were discussed.

"The various suggestions received will be examined, and suitable action will be initiated in due course," the RBI said. There were wide-ranging discussions on various aspects to widen and deepen the adoption and usage of UPI at the meeting which was also attended by Deputy Governor T. Rabi Sankar along with senior officials of RBI. (Also Read: Stock Markets Witness High Volatility Amid Concern Over Voter Turnout In Election)

The stakeholders shared their suggestions on strategies for scaling up of UPI infrastructure and expanding the products portfolio. The challenges being encountered by the ecosystem and innovative solutions for addressing them came up during the discussion, according to a RBI statement. There was also brainstorming on innovative ideas to integrate potential users into the digital payments ecosystem. (Also Read: Akshaya Tritiya 2024: Looking For The Best Time Or Muhurat To Buy Gold? Here's The City-Wise List And Timings)