UPI Now Available In 7 Countries, 45% Of All Real Time Digital Payments Happen In India: Sitharaman

New Delhi: Union Finance Minister Nirmala Sitharaman has said that UPI – Unified Payments Interface – is w available in seven countries ding 45 per cent of all real time digital payments are taking place in India.

Digital banking system needs to be robust, reliable and very user friendly with equate firewall," Finance Minister said.

“Banks will have to play crucial role in driving nda of making India a Viksit Bharat by 2047,” she furr ded.

dressing 90th Foundation Day of Bank of Maharashtra , a public sector lender, Sitharaman said that banks will be required to give strong momentum to infrastructure sector, ensure availability of need-based funding to MSMEs, bring unbanked population under ambit of formal banking channels, and help increase insurance penetration.

She ted that techlogy is changing banking landscape as it provides a secure and easy-to-navigate digital banking experience to all customers.

However, she ded that "you (banks) cant have a digital system which somewhere gets hacked, and entire system and trust which is laid on it getting compromised. So you need to have a robust and resilient system for which every w and n you need to make sure that firewalls are equate, any emergency drill which you need to do, what if situation so you kw to handle if re is an emergency in terms of digital insecure incidents".

With inputs from PTI