As part of its global scope, Prime Minister Narendra Modi is expanding the initiative in the emerging economies’ group created by Brazil, Russia, India, China, and South Africa (BRICS) to, also, improve financial inclusion, the Finance Ministry stated.

The governmental institution noted that UPI is currently operational in essential markets such as the United Arab Emirates, Singapore, Bhutan, Nepal, Sri Lanka, France, and Mauritius.

UPI’s entry into France is particularly significant as it marks its first incursion into Europe, the official source underscored.

Modi added that such an expansion will enable Indian consumers and entrepreneurs to make seamlessly and receive payments even while living or traveling abroad.

In October 2024, UPI achieved a historic milestone by processing more than 16 billion financial transactions in one month, the official sources stated.

Launched in 2016 by the National Payments Corporation of India (NPCI), UPI revolutionized the country’s payments ecosystem by integrating multiple bank accounts into a single mobile app.

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