The Unified Payment Interface (UPI) is a marvel for the whole world, said Prime Minister Narendra Modi, during the popular podcast People by WTF, hosted by Zerodha co-founder Nikhil Kamath. "When guests from around the world come, they enquire on how UPI works," he added.
PM Modi also said India has stated an example to the entire world that how technology is democratised in the world of fintech.
Speaking to Kamath during the podcast, released on Friday, PM Modi spoke about digital payments, Jan Dhan accounts, UPI and more.
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On digital payments, PM Modi said, “Today, in just thirty seconds, I can directly transfer money into the accounts of 100 million farmers. Today, I can send subsidy to 130 million cylinder consumers with just one click in 30 seconds."
He then explained as why Jan Dhan accounts came into existence. He said, "..because billions that were being siphoned out due to corruption are now saved. And, technology has been used efficiently."
He then praised UPI and said, "...Look at UPI. It is a marvel for the whole world. When guests from around the world come, they ask how UPI works. I tell them to visit any vendor."
PM Modi further said in the podcast that this is a 'technology-dominant country.'
"Today, the youth is able to do wonders by possessing a mobile phone. And, the youth will remember, that there was once a government that made the whole world fit into my pocket, in my mobile phone," he said.
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