Speaking at the launch, Patel said the enhanced platform is the outcome of "a calibrated approach adopted by the Reserve Bank, in the initial years as a developer and in later years as a catalyst and facilitator."
Nandan Nilekani, Advisor - Innovation, NPCI said the UPI has grown considerably post demonetisation and has been the catalyst for retail payment systems with many banks building products around the UPI.
The first version of UPI was launched in 2016.
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