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RBI Governor Urjit Patel launches UPI 2.0
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SME Times News Bureau | 17 Aug, 2018
Reserve Bank of India (RBI) Governor, Urjit Patel on Thursday launched
the Unified Payments Interface (UPI) 2.0 developed by the National
Payments Corporation of India (NPCI).
The UPI 2.0 has enhanced
features such as "invoice in the inbox, signed intent or QR, UPI mandate
with blocking of funds and UPI for overdraft account", NPCI said in a
statement.
Speaking at the launch, Patel said the enhanced
platform is the outcome of "a calibrated approach adopted by the Reserve
Bank, in the initial years as a developer and in later years as a
catalyst and facilitator."
Patel also outlined the need for
ensuring adequate importance on cyber security and noted that costs
should not be an inhibiting factor for the same, the statement said.
Nandan
Nilekani, Advisor - Innovation, NPCI said the UPI has grown
considerably post demonetisation and has been the catalyst for retail
payment systems with many banks building products around the UPI.
The first version of UPI was launched in 2016.
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