We begin this new series with Bala, a curious young learner, as he explores money concepts. His first lesson: understanding UPI and digital money. UPI (Unified Payments Interface) is an instant payment system that allows you to transfer money between any two bank accounts using a mobile app. It acts as a digital bridge between banks, making money transfers simple.

This article is authored by Pushpa Marwal, banking analyst, Forrester.

We begin this new series with Bala, a curious young learner, as he explores money concepts. His first lesson: understanding UPI and digital money. UPI (Unified Payments Interface)…

The immediate benefit to India from the cross-border expansion of UPI is reduction in remittance costs. This is a key concern for a nation that receives the highest amount of…