Page 38 - Mann Ki Baat April 2022
P. 38
tHe Future Is CasHless
tHe riSe oF UPi in inDia
India is being transformed A truly cashless economy is both
and one such transformation is intuitive and inevitable. Today, with
seen in the manner in which our the evolution of technology, the
fellow citizens are embracing world is becoming digital and thus
digital payments. At present, in turn moving towards a cashless
transactions worth about 20 future at a much faster rate.
thousand crore rupees are India, a country of over a billion
taking place in our country aspirations, is taking the lead
every day. Last March, UPI through rapid digital revolution
transactions reached around Rs and successful financial inclusion
10 lakh crores. under the leadership of Prime
Minister Narendra Modi.
Prime Minister Narendra Modi
(in his ‘Mann Ki Baat’ address) A unique flagship programme,
Digital India, was launched by the
Government of India, on 1st July,
2015 with a vision to transform India
into a digitally empowered society
and knowledge economy. The
“On 30th December 2016,
programme has been an enabler
when he launched the
for several important Government
BHIM-UPI platform, the
schemes and programmes, most
Prime Minister said that
importantly, the financial inclusion
BHIM will be the biggest
and a unified payment interface.
wonder of the world. Fast
The launch of Unified Payments
forward to April 2022: BHIM-
Interface (UPI), was a true game
UPI has 316 banks on the
changer which introduced the
platform. It processed 5.5
benefits of digital payments in
billion transactions worth
every part of the country. From
9.8 lakh crores proving that
flourishing businesses to modest
the Prime Minister’s words
street vendors across the country,
were prescient.”
UPI is helping everyone with
– Nandan Nilekani payments and transactions. Most
Co-founder, Infosys, importantly, it is driving the country
Advisor, NPCI towards a cashless economy,
thus immensely contributing
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