UPI Revolution: India's Digital Payments System Boosts Financial Inclusion
India's Unified Payments Interface (UPI) has increased financial inclusion, enabling underserved groups to access formal credit.
A study by IIM and ISB found that UPI has promoted equitable economic growth and responsible lending.
Since its launch in 2016, UPI has enabled 300 million individuals and 50 million merchants to make seamless digital transactions. Despite a credit surge, default rates didn't rise. India's UPI success can inspire other countries to adopt similar fintech systems, promoting global financial inclusion and development. UPI has transformed India's financial landscape.
