Prime Minister Narendra Modi on Tuesday said that the "massive surge in UPI transactions indicates the Indians' "collective resolve to embrace new technologies." PM on his Twitter shared a Business Standard report that showed UPI transactions in India in July touched the six-billion mark.
Sharing the report, Modi wrote "This is an outstanding accomplishment. It indicates the collective resolve of the people of India to embrace new technologies and make the economy cleaner. Digital payments were particularly helpful during the COVID-19 pandemic."
UPI payments have now touched the highest level, during the pandemic, the payments through UPI increased wisely. The Reserve Bank of India (RBI) also allowed payment from Rupay credit cards via UPI. This was announced by the RBI governor Shaktikanta Das today in the monetary policy review press conference.Initially UPI payments could be made from a bank account by linking one's bank account to UPI. However, later UPI apps also started allowing individuals to add credit and debit cards to make payments to merchants. So, you couldn't make payments to individuals (non-merchants) by using your UPI linked card.