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The International Monetary Fund (IMF) has recognized India's Unified Payments Interface (UPI) as a global leader in fast and real-time digital payments. Developed by the National Payments Corporation of India (NPCI), UPI has facilitated rapid inter-bank transactions and transformed the digital payments landscape in India. The IMF highlighted that India now processes payments faster than any other country due to the massive adoption of UPI. This widespread usage has led to a decline in the use of other payment instruments such as debit and credit cards. In June 2025 alone, UPI recorded over 18 billion transactions, demonstrating its exponential growth and significant reduction in cash usage. The IMF praised UPI's interoperable design and noted that it offers a blueprint for digital payment systems globally. The adoption of UPI has also contributed to India's leadership in fintech and the digital economy.
#CharchaMe | IMF Hails India's UPI Model India now leads the world in faster payments, thanks to the widespread adoption of the Unified Payments Interface (UPI), according to a recent note from the International Monetary Fund (IMF) Subhomoy Bhattacharjee (Sr. Economic https://t.co/sDNIFrOo3F
#CharchaMe | India leads the world in fast payments, powered by the widespread adoption of UPI, says the IMF. Watch as experts break down what this means for India's digital economy and global leadership in fintech. Here: https://t.co/fJd5BxEDg7 #UPI #DigitalIndia #IMF https://t.co/8ScLkhgEi0
The IMF praises India’s #UPI, hailing it as a global leader in digital payments. Its interoperable design has driven exponential growth and significantly reduced cash usage. In June 2025, UPI recorded over 18 billion transactions. This innovative platform offers a blueprint for https://t.co/hHfEZd0opx
