IT Minister challenges Banks to Create a UPI like Platform
At the Digital Payment Utsav in New Delhi, the Minister for Electronics and Technology has placed a challenge for the Banks to create a powerful and seamless platform like UPI. This will help to provide quick and easy credit to the MSMEs, small industries, and small businesses.
Simmi Chaudhary, the Economic Advisor at MeitY said that digital transactions have helped the Indian Economy run and have helped people as well. Digital payment has also helped to reduce contact with the virus.
Several banks including Punjab National Bank, Kotak Bank, YES Bank, Indian Overseas Bank, ICICI Bank, Indian Bank, Bank of Maharashtra, and City Union Bank introduced their contactless Credit Cards under the RuPay Network.