Brief by Shorts91 Newsdesk / 05:47am on 11 Jul 2025,Friday India Global
The International Monetary Fund (IMF) has recognized India’s Unified Payments Interface (UPI) as a blueprint for global digital payment systems. In its report titled "Growing Retail Digital Payments: The Value of Interoperability," the IMF highlighted UPI’s low-cost, interoperable framework, simple user interface, and integration with India’s digital identity infrastructure as key factors behind its success. Launched in 2016, UPI now facilitates over 18 billion transactions monthly, significantly reducing dependence on cash and cards. The IMF suggested other countries could adopt similar interoperable and inclusive digital payment systems tailored to their own socio-economic contexts. (PC: India Today)
