The exponential expansion of the Unified Payments Interface (UPI) has made India the world leader in quick digital payments, according to a recent International Monetary Fund (IMF) study titled "Growing Retail Digital Payments: The Value of Interoperability." India Takes the Lead in Real-Time Payments, Says IMF The National
According to an IMF statement, the rapid expansion of UPI has allowed India to surpass all other nations in terms of payment speed, while the use of traditional payment methods, such as credit and debit cards, is decreasing. The NPCI created the Unified Payments Interface, a real-time and instantaneous payment
For fiscal year 2024–25 (FY25), the IMF increased India’s growth prediction by 20 basis points (BPS), bringing it up to 7% from 6.8%. The improvement in private consumption, especially in rural India, is the reason for the improvement in the growth projection, according to the International Monetary
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The Middle East or the Gulf region has been basking on the oil-rich economy for ages. Since the discovery of oil (around 1908) in the region, the entire province has gone rags to riches. This development did not happen over the night as the first motor vehicles didn't