UPI (Unified Payments Interface)
Real-time, mobile-first interbank payment system developed by the National Payments Corporation of India (NPCI) and launched in 2016, that lets users transfer money between bank accounts using a Virtual Payment Address (VPA) without sharing bank details.
Why UPSC tests this
Tested on NPCI (a not-for-profit company under the Payment & Settlement Systems Act, 2007), the VPA mechanism, and recent developments — UPI Lite, RuPay credit card on UPI, and cross-border UPI rollouts.
Latest from PIB
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English rendering of PM’s remarks at the India-Cyprus Business Roundtable Meeting in Cyprus
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Past UPSC Prelims questions on this
- UPSC Prelims 2025economics
Consider the following countries : I. United Arab Emirates II. France III. Germany IV. Singapore V. Bangladesh How many countries amongst the above are there other than India where international merchant payments are accepted under UPI?
Practice more on money and banking → - UPSC Prelims 2023environment
Consider the following statements: Statement-I: Marsupials are not naturally found in India. Statement-II: Marsupials can thrive only in montane grasslands with no predators. Which one of the following is correct in respect of the above statements?
Practice more on conservation → - UPSC Prelims 2021history
With reference to Indian history, which of the following statements is/are correct? 1. The Nizamat of Arcot emerged out of Hyderabad State. 2. The Mysore Kingdom emerged out of Vijayanagara Empire. 3. Rohilkhand Kingdom was formed out of the territories occupied by Ahmad Shah Durrani. Select the correct answer using the code given below.
Practice more on modern india → - UPSC Prelims 2021history
Consider the following statements : 1. It was during the reign of Iltutmish that Chengiz Khan reached the Indus in pursuit of the fugitive Khwarezm prince. 2. It was during the reign of Muhammad bin Tughluq that Taimur occupied Multan and crossed the Indus. 3. It was during the reign of Deva Raya II of Vijayanagara Empire that Vasco da Gama reached the coast of Kerala. Which of the statements given above is/are correct?
Practice more on ancient medieval → - UPSC Prelims 2018science-and-tech
With reference to digital payments, consider the following statements : 1. BHIM app allows the user to transfer money to anyone with a UPI-enabled bank account. 2. While a chip-pin debit card has four factors of authentication, BHIM app has only two factors of authentication. Which of the statements given above is/are correct ?
Practice more on digital and it →
Frequently asked
- Who operates UPI?
- The National Payments Corporation of India (NPCI), an umbrella organisation for retail payments, regulated by the RBI.
- What is a VPA?
- Virtual Payment Address — a unique identifier (e.g., name@bank) that lets a user receive UPI payments without sharing their bank account number or IFSC.
- What is UPI Lite?
- An on-device wallet for low-value transactions (currently up to ₹500 per transaction) that does not require UPI PIN entry, designed to reduce server load and enable faster payments.
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