UPI after 2000 notes demonitasation
UPI after 2000 notes demonitasation After the demonetization of the 500 and 1000 rupee notes in India in November 2016, the Unified Payments Interface (UPI) gained significant traction as a digital payment method. UPI was introduced by the National Payments Corporation of India (NPCI) in 2016, and it enables instant money transfers between bank accounts through mobile devices. While UPI was launched before the demonetization, it gained popularity in the aftermath of the currency ban. The demonetization drive was aimed at curbing black money, counterfeit currency, and promoting digital transactions. Following the demonetization, there was a significant cash shortage in the country, and people turned to digital payment methods like UPI to carry out transactions. After the introduction of UPI, several banks and payment service providers developed mobile applications that allowed users to link their bank accounts and transfer money seamlessly. UPI transactions can be initiated through...