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PM Lauds 6 Billion UPI Transactions In July

PM Narendra Modi has lauded the outstanding accomplishment of 6 billion UPI transactions in July, highest ever since 2016

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Prime Minister, Narendra Modi has lauded the outstanding accomplishment of 6 billion UPI transactions in July, highest ever since 2016. 

In a response to a tweet by Union Finance Minister Nirmala Sitharaman, the Prime Minister said;

“This is an outstanding accomplishment. It indicates the collective resolve of the people of India to embrace new technologies and make the economy cleaner. Digital payments were particularly helpful during the COVID-19 pandemic.”

Dilip Modi, Founder, SpiceMoney said, "I have always been a strong believer of the power of technology and its potential to transform people’s lives. Its elating to see the rising adoption and success of UPI in India which wouldn’t have been possible without the government’s vision and support to create a digital economy and drive financial inclusion for the last mile. The positive response received for digital financial interventions from people living across the length and breadth of our country has further helped in achieving this goal. The secure and user-friendly interface along with the growing internet penetration across the country are the key factors that have heavily contributed to the success of UPI in India. The fact that UPI works on a simple internet connection also gives an impetus to the digital revolution happening in India at the moment connecting our country at a speed never known before. This has also helped in financially empowering rural India and bridging the urban-rural divide."

"Several initiatives are now being launched in partnership with UPI like UPI Lite which aims to process small scale offline digital payments and UPI123Pay allowing transactions to be done through phones in areas without an internet connection furthering the reach of digital payments. The acceptance of UPI in countries like Singapore, Bhutan, UAE and Nepal is a testimony of NPCI’s success with UPI. We at Spice Money are honoured to be a part of this journey of financial inclusion with a secure and easy to use payment system", he added.

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UPI Payments narendra modi