Sitharaman On UPI
Sitharaman asks NPCI to reinforce UPI's robustness, prevent disruptions
This story was originally published at 21:47 IST on 28 April 2025
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NEW DELHI – At a time when outages in the Unified Payments Interface are on the rise, Finance Minister Nirmala Sitharaman has asked the National Payments Corp. of India to reinforce the robustness of the UPI ecosystem and prevent future disruptions, the finance ministry said on Monday.
The finance minister Monday chaired a meeting to review the UPI ecosystem. "FM (finance minister) Smt. @nsitharaman urged all stakeholders to work collaboratively to address infrastructure gaps, enhance the end-user experience and cybersecurity architecture," the finance ministry said in a post on social media platform X, formerly Twitter. Instances of disruptions and outages in the UPI ecosystem jumped between the end of March and April.
At the meeting, Sitharaman said there is a need to target 1 billion UPI transactions per day within the next 2–3 years. The finance minister also stressed on the importance of accelerating the internationalisation of UPI through the development of interoperable frameworks and expanding global payment acceptance, the ministry said.
The meeting was attended by Finance Secretary Ajay Seth, Department of Financial Services Secretary M. Nagaraju, National Payments Corp. of India Managing Director and Chief Executive Officer Dilip Asbe, and officials from the Reserve Bank of India, finance ministry, and NPCI.
"Discussions focused on enhancing the resilience, scalability, and real-time monitoring of the UPI infrastructure to ensure uninterrupted service delivery and strengthen user trust," the finance ministry said in the post.
UPI transactions rose 30% to INR 261 trillion in 2024-25 (Apr-Mar). In terms of volume, 186 billion transactions took place in FY25, up 42% from FY24. UPI now has around 450 million annually active users.
The finance minister also asked officials to increase efforts to onboard more users and merchants onto the UPI platform to broaden its reach and impact. End
Reported by Shubham Rana
Edited by Ashish Shirke
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