stdClass Object
(
    [id] => 17466
    [paper_index] => 202508-01-023884
    [title] => THE RISE OF UPI AND DIGITAL BANKING IN INDIA: IMPACTS, CHALLENGES, AND GLOBAL LESSONS
    [description] => 
    [author] => Rushikesh Anil Suryawanshi
    [googlescholar] => 
    [doi] => 
    [year] => 2025
    [month] => August
    [volume] => 11
    [issue] => 8
    [file] => fm/jpanel/upload/2025/August/202508-01-023884.pdf
    [abstract] => The Unified Payments Interface (UPI), launched in 2016 by the National Payments Corporation of India (NPCI), has become the backbone of India’s digital financial transformation. In less than a decade, it has outpaced traditional card-based systems and mobile wallets, recording exponential growth in both transaction value and volume. UPI is more than a technological platform; it represents a state-led approach to building public digital infrastructure that is both interoperable and low-cost. This paper examines UPI’s growth trajectory, its implications for banks, fintech players, and consumers, and its role in advancing financial inclusion. Drawing on Reserve Bank of India (RBI) reports, NPCI transaction data, and World Bank Global Findex surveys, the analysis highlights both achievements and unresolved tensions. On the one hand, UPI has expanded access, deepened digital adoption, and positioned India as a global leader in payments innovation. On the other hand, issues of cybersecurity, banks’ revenue sustainability, and market concentration continue to raise concerns. A comparative lens with China, Europe, the United States, and Africa underscores India’s distinct model, one that combines public infrastructure with private adoption. The paper concludes that UPI’s future success will depend on balancing inclusivity with resilience, and on offering lessons adaptable to different global contexts.
    [keywords] => Unified Payments Interface, Digital Banking, Fintech, Financial Inclusion, India, Global Payments
    [doj] => 2025-08-31
    [hit] => 
    [status] => 
    [award_status] => P
    [orderr] => 132
    [journal_id] => 1
    [googlesearch_link] => 
    [edit_on] => 
    [is_status] => 1
    [journalname] => EPRA International Journal of Multidisciplinary Research (IJMR)
    [short_code] => IJMR
    [eissn] =>  2455-3662 (Online)
    [pissn] => - --
    [home_page_wrapper] => images/products_image/11.IJMR.png
)
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