Phase IFoundation
Background
Overview
This concept is crucial for understanding the economic viability of digital public goods, the balance between promoting financial inclusion and ensuring ecosystem sustainability, the role of government subsidies, and the potential impact on consumer behavior and the broader digital economy. It also involves legislative changes and the role of regulatory bodies like RBI.
The Unified Payments Interface (UPI) is a real-time payment system developed by the National Payments Corporation of India (NPCI) facilitating inter-bank peer-to-peer and person-to-merchant transactions. Its widespread adoption has made it a cornerstone of India's digital financial infrastructure, raising questions about its long-term funding and sustainability.