UPI in India handles > 1 trillion USD (46 Billion transactions) of instant payments per year for free. With UPI, you can make P2P or P2M payments, govt subsidie

UPI in India handles > 1 trillion USD (46 Billion transactions) of instant payments per year for free. With UPI, you can make P2P or P2M payments, govt subsidies and business payments can come to you directly and instantly. Bank account opening with KYC is fully digital, online and instant. All Indian banks give basic free savings account with zero fees. Credit landscape is rapidly changing. Overdraft was never really popular in India. This is real change enabled by technology and brought about with really stunning cross-functional collaboration between some really good techie volunteers and bureaucrats behind the scenes and politicians through appropriate regulation, good consortium partnerships and just really good timing luck.