India’s Unified Payments Interface (UPI) has completed 10 years of its operations today. Over the decade, UPI has transformed from a pilot program into the backbone of Indian payments, transitioning the nation from a cash-led economy to a real-time digital payment system. Akashvani correspondent reports that in 2016, the National Payments Corporation of India launched UPI, a system that fundamentally simplified the money movement in India.
From 216 banks in 2021 to 691 by January 2026, the network has grown into a unified payments infrastructure, enabling users to transact effortlessly regardless of their bank or platform. Ministry of Finance noted that UPI has around 49 per cent share in the global real-time payment system transaction volume. Institutions such as the International Monetary Fund (IMF) and the World Bank have also acknowledged UPI’s scale, efficiency, and inclusiveness.
It has expanded beyond national borders and is now operational or linked with payment systems in multiple countries, including the UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, Mauritius, and Qatar. UPI is not just a payment system but a people’s platform that made financial transactions faster, simpler, transparent, and inclusive.
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