Current Affairs - Finance - Discussion

The International Monetary Fund (IMF) released a detailed note titled "Growing Retail Digital Payments: The Value of Interoperability", recognising the transformative role of India’s Unified Payments Interface (UPI) in the digital finance landscape. The IMF highlighted UPI’s ability to scale rapidly, offer real-time secure payments, and foster financial inclusion. UPI’s interoperability — allowing seamless transactions across platforms and banks — was a key point of emphasis, as it enables widespread adoption and innovation. The report also underscores India’s leadership in global digital payment systems, with UPI accounting for a major share of global real-time transactions and being adopted across multiple countries.