At an event in Mumbai, M Nagaraju, Secretary, Ministry of Finance, highlighted the massive growth of UPI (Unified Payments Interface) and India’s progress in digital payments. He acknowledged that while UPI adoption has been “very substantial,” key challenges remain — especially in tribal and rural communities where internet access and offline transactions are still limited. Nagaraju noted that many fintech firms are innovating to connect rural India and make digital payments more inclusive. He also reaffirmed that the Government is not imposing MDR (Merchant Discount Rate) charges to encourage wider digital adoption.

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