Let UPI be! Why fix a payment system that isn’t broken?
S.N.A.F.U. = Situation normal all fouled up.Let it be, let it be, let it be, let it beWhisper words of wisdom, let it be– Paul McCartney A small industry has sprung up to explain the recent changes made to the Unified Payments Interface (UPI) system. I don’t plan to join it.But I do want to ask: Why tinker with a system that has been working well?Why fix UPI?The answer to that question lies in the argument that the system needs money to survive – or, as the Department of Financial Services under the Ministry of Finance told the Parliament’s Standing Committee on Finance in March 2026, the…
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