GENERAL8 Sept 2026
PM Modi urges fintech sector to expand UPI globally, cut remittance costs
Prime Minister Modi asked India's fintech companies to take UPI global. UPI, a fast payment system, now works in 11 countries and links with Singapore. More links could cut costs for Indians sending money home. He also wants firms to focus on non-payment services, strong cybersecurity, and fair data rules, with a rating index for consumer trust.
Key Statutory Highlights
- PM Modi urged fintech companies to expand UPI's global reach and connect it with local systems in other countries.
- UPI is now live in 11 countries and has connected with Singapore's local payment system.
- Modi said the next chapter for Indian fintech should be non-payment transactions, along with strong cybersecurity and a consumer protection index.
Actionable Advice for Taxpayers / Founders:If you send money abroad or run a business with cross-border payments, keep an eye on UPI's global links — lower transaction costs and faster transfers could change your payment options soon.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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