Prime Minister Narendra Modi recently said that RuPay and UPI are low cost and highly secure, and have become India’s identity in the world; it is time Indian financial institutions have maximum partnerships with fintechs to increase their reach.
He was addressing a post-Budget webinar on “Enhancing Efficiency of the Financial Services for Creating Growth opportunities.” This was the 10th webinar in a series of 12 post-Budget webinars organized by the government to seek ideas and suggestions for effectively implementing initiatives announced in the Union Budget 2023-24.
The prime minister said India today has a robust financial system and a banking system that is in profit after being on the verge of collapse 8-10 years ago. Also, there is a government that is taking policy decisions with courage, clarity and confidence. “Today, the need of the hour is that the benefits of the strength in India’s banking system reach the maximum number of people,” he said.
RuPay and UPI our identity, PM tells financial institutions to partner with fintechs to increase their reach
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