7 countries can implement UPI and Aadhaar of India

Many countries want to use India’s major technologies to increase digitization. The central government hopes that seven countries can contract by March to implement technology platforms like Aadhaar and UPI in the country. Minister of State for Electronics and Information Technology Rajeev Chandrasekhar said that Prime Minister Narendra Modi has decided to offer India’s technology platforms to help increase digitization in these countries.

In Republic of India Stack Developer Convention, Chandrashekhar said, “I hope five to seven countries can sign up for it by March.” The government plans to offer technology platforms such as Aadhaar, UPI, Digilocker and GSTN as part of the responsibility of the responsibility of the G20. This can also benefit the country’s startups. Recently it was reported that the National Payments Corporation of India (NPCI) has allowed non-residents from 10 countries to transfer funds from NRE/NRA accounts using UPI.

In a circular, NPCI had asked the UPI-linked stakeholders to create a mechanism by the end of April, which would allow non-residents having NRE/NRA accounts to use international mobile numbers for transaction through Unified Payments Interface (UPI). The facility will initially be made available to non-residents in 10 countries including the US, Australia, Singapore, Hong Kong, Oman, Saudi Arabia and the United Arab Emirates.

Last month, UPI Payments reached a record high with Rs 12.82 lakh crore. About 782 crore transactions took place on this platform in December. In November, UPI payments were Rs 11.90 lakh crore. Earlier in October, the payments crossed Rs 12 lakh crore through UPI. The Department of Financial Services had said, “The UPI has made a major contribution in changing digital payment in the country. There have been about 782 crore transactions worth Rs 12.82 lakh crore in December.” UPI is a real-time payment system from which transactions can be done from one bank to another. These transactions are easily done through mobile. There is no charge in this. This source of payment is increasing continuously and includes 381 banks. UPI is also getting a lot of help in furthering financial intelligence.