The current ecosystem of digital payments in India offers a unique bouquet of simple, safe and secure options for instant or quick transfer of funds, both large and small value for businesses as well as for individuals. UPI, a real-time payments system, was launched in India in April 2016 by the National Payments Corporation (NPCI). It has played a significant role in the growth of retail digital payments in India. Last year, we launched a pilot of a technology platform which enables frictionless credit. We proposed to call it Unified Lending Interface (ULI), says RBI Governor Shaktikanta Das (@DasShaktikanta) while addressing the inaugural session of Global Conference on DPI and Emerging Technologies in Bengaluru.
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