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ARTICLE · 16 MAY 2024

AKP Banking & Finance Digest- May 13, 2024

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The Reserve Bank of India ("RBI") Governor Shri Shaktikanta Das convened a meeting on Wednesday with key stakeholders of the Unified Payments Interface ("UPI")...

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Anuroop Omkar
Anuroop Omkar

1. Regulatory Updates

1.1. India

1.1.1. RBI Governor Meets UPI Stakeholders to Enhance Digital Payment Solutions

The Reserve Bank of India ("RBI") Governor Shri Shaktikanta Das convened a meeting on Wednesday with key stakeholders of the Unified Payments Interface ("UPI") ecosystem to deliberate on strategies for advancing digital payment services. The meeting focused on scaling up the UPI infrastructure and addressing challenges faced by fintech players. The central bank also encouraged the exchange of innovative ideas to integrate more users into the digital payments landscape. Following the discussions, the RBI stated that it would review the suggestions provided during the meeting and take appropriate action in due course. RBI

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