How India’s Digital Payment Revolution is Inspiring the World

GS Paper 3 Syllabus: Banking/ Financial Inclusion   Source: PIB, Forbes, PIB Context: In January this year, about eight billion (800 crores) transactions worth nearly $200 billion (Rs. 2 lakh crores approximately) were carried out on the Unified Payment Interface (UPI) What is Digital Payment System? A digital payment sometimes called an electronic payment, is …

[Mission 2023] INSIGHTS DAILY CURRENT AFFAIRS + PIB SUMMARY 22 February 2023

InstaLinks :  help you think beyond the issue but relevant to the issue from UPSC prelims and Mains exam point of view. These linkages provided in this ‘hint’ format help you frame possible questions ina your mind that might arise(or an examiner might imagine) from each current event. InstaLinks also connect every issue to their …

[Mission 2023] INSIGHTS DAILY CURRENT AFFAIRS + PIB SUMMARY 11 February 2023

InstaLinks :  help you think beyond the issue but relevant to the issue from UPSC prelims and Mains exam point of view. These linkages provided in this ‘hint’ format help you frame possible questions ina your mind that might arise(or an examiner might imagine) from each current event. InstaLinks also connect every issue to their …

[Mission 2023] INSIGHTS DAILY CURRENT AFFAIRS + PIB SUMMARY 7 January 2023

  InstaLinks :  help you think beyond the issue but relevant to the issue from UPSC prelims and Mains exam point of view. These linkages provided in this ‘hint’ format help you frame possible questions in your mind that might arise(or an examiner might imagine) from each current event. InstaLinks also connect every issue to …

UPI123Pay:

GS Paper 3: Topics Covered: Inclusive growth and issues arising out of it.   Context: The Reserve Bank of India has launched a new Unified Payments Interface (UPI) payments solution for feature phone users dubbed ‘UPI123Pay’.   What is UPI123Pay? UPI ‘123PAY’ is a three-step method to initiate and execute services for users which will …

Nepal will be the first foreign country to adopt India’s Unified payments interface (UPI) system:

GS Paper 3: Topics Covered: Developments in Science and Technology.   Context: The National Payments Corporation of India (NPCI) has announced that the neighboring country of Nepal will be the first foreign country to adopt India’s UPI system.   What is UPI? Unified Payments Interface (UPI) is an instant real-time payment system, allowing users to …