IMF applauds India’s UPI as world’s largest real-time payment system

IMF hails India’s UPI as the world’s largest real-time payment system, processing over 19 billion monthly transactions since its 2016 launch.

A view of the International Monetary Fund (IMF) logo at its headquarters in Washington, D.C., U.S., November 24, 2024. / REUTERS/Benoit Tessier/ File Photo

India’s Unified Payments Interface (UPI) has emerged as the world’s largest real-time payment system, earning praise from the International Monetary Fund (IMF) for transforming the country’s financial landscape.

“India’s UPI is the largest real-time payment system in the world by volume, with more than 19 billion transactions a month,” IMF economists Alex Copestake, Divya Kirti, and María Soledad Martínez Pería wrote in Finance & Development magazine, the institution’s quarterly publication.

Also read: IMF says new US tariffs keep trade uncertainty running high

This post is for paying subscribers only

SUBSCRIBE NOW

Comments

This is a Premium Article, available exclusively to our subscribers.

Read 500+ such News or articles every month by subscribing today!
Monthly

Free

Limited Access

Limited View

Free weekly E-Paper

Subscribe Now
Monthly

$10

Full Access

Unlimited View

Free weekly E-Paper

Free daily newsletter

Subscribe Now
Annual

$50

Full Access

Unlimited View

Free weekly E-Paper

Free daily newsletter

Subscribe Now
Start the conversation

Become a member of New India Abroad to start commenting.

Sign Up Now

Already have an account? Login