Delegation to visit India to study UPI system: MEA after PM Narendra Modi concludes Argentina visit
Addressing a briefing after the bilateral meeting between Prime Minister Modi and Argentinian President, MEA's Secretary (East) P Kumaran, said, "...The other major topic of discussion was about India's UPI System and how it has increased productivity in India, led to a the formalisation in the Indian economy and generated more data which can be used by the government and by economists to target various benefits to sections of the population more efficiently, how it generates a credit record that can be relied on for micro credit for farmers and small businesses. How the formalisation of the economy has increased tax compliance... President Milei was keen to understand how the UPI system works and how it enables the central bank to control monetary policy more effectively. The two sides agreed that a central bank delegation should visit India to talk about various aspects of this..."
