Page 4 - NIS English 16-30 September, 2026

FROM THE EDITOR'S DESK...

10 Glorious Years of UPI

From small street vendors to large stores...

payments are being made via UPI

Warm greetings, success is no longer limited to India. The platform is
At the morning vegetable market, even the street now available in 11 other countries, further strength-
vendor now displays a QR code. Customers scan it ening India’s presence in the global digital payments
with their phones, completing the payment within ecosystem. More recently, an agreement was signed
seconds. There is no hassle of counting cash or wor- on August 30 to facilitate UPI-based payments in
rying about returning change. Whether it is paying Uzbekistan as well.
the electricity bill or the milkman’s dues, buying tea The International Monetary Fund has recognised UPI
at the neighbourhood corner shop, or shopping at a as the world’s largest real-time payment system. Its re-
large city mall - everywhere, the same convenience is markable journey reflects the strength of India’s digital
available: fast, secure, and transparent payments. public infrastructure and its focus on inclusion – bring-
This is the real strength of the Unified Payments In- ing millions of people into the formal financial system
terface (UPI), which has made everyday life easier for and making digital payments accessible to citizens
the common man. On 25 August 2016, the National across the country. The incredible decade-long journey
Payments Corporation of India, under the guidance of UPI is the cover story of this issue of our magazine.
of the Reserve Bank of India (RBI), launched UPI. The This issue also features a special personality
service has now completed ten years and has become profile on Rani Rashmani, remembered as a symbol
the backbone of India’s digital payments ecosystem. of courage, compassion, and unwavering conviction.
Over a decade, UPI has demonstrated extraordinary In addition, read about key takeaways from Union
growth and has transformed the way India makes Cabinet decisions, the Pragati meeting, and Prime
digital payments. Annual transaction volume expand- Minister Narendra Modi’s overseas visit, along with a
ed from just 2 crore transactions in FY 2016-17 to over roundup of his engagements over the past fortnight.
24,162 crore transactions in FY 2025-26, representing The inside page features Mann ki Baat while the
an almost 12,000-fold surge in transaction volume. The back cover carries a feature dedicated to World
value of transactions has also risen sharply, from ₹0.07 Bamboo Day, observed on September 18, highlight-
lakh crore to nearly ₹314 lakh crore. ing the importance and potential of bamboo.
Initially, only 44 banks were part of the network.
Today, 741 banks are actively connected to UPI. To Keep sending us your suggestions.
make digital payments safer and curb fraud, the Gov-
ernment of India, the Reserve Bank of India (RBI), and
the National Payments Corporation of India (NPCI)
have introduced measures such as risk-based trans-
action limits and stronger security standards. UPI’s (Dhirendra Ojha)

Read/Download the magazine available in Hindi, English and 11 other languages.
https://newindiasamachar.pib.gov.in/