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Below the Quote on Cabinet approves UPI incentive of Rs.1,500 crore to banks by Mr Deepak Verma, MD and CEO, Findi

“We welcome the government’s initiative to incentivize small-value BHIM UPI transactions, as it will encourage more businesses and customers to participate in the formal economy. This move enhances convenience and financial inclusion for the underbanked and underserved, particularly in rural and semi-urban areas. For merchants, especially financial service providers, it creates opportunities to extend credit and other essential financial services to nearly 250 million underbanked individuals. While cash remains a crucial part of the financial ecosystem especially through ATMs and Micro ATMs, which serve as key access points, we see this initiative as a complementary step towards expanding financial access for all, especially the underserved.”

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