Banking Simplified : Unified Payment Interface
Zee News Apr 14, 2016, 14:15 PM IST,
The Indian banking sector has seen unprecedented growth along with remarkable improvement in its quality of assets and efficiency.
Ten of the country's biggest banks along with the Reserve Bank of India have just launched a Unified Payments Interface (UPI) — a mega app that will sit on your smart phone once you have downloaded it and dramatically reduce the cost and time taken for making simple payments. What's more, you can use this app to pay for any transaction below Rs 1 lakh, even something as low as Rs 50.
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