UPI Completes 10 Years of Operations

# UPI Completes 10 Years of Operations ### Why in News? The Unified Payments Interface (**UPI**) completed **10 years** on August 25, **2026**, after growing into the world's largest real-time payment system by transaction volume. ### How did UPI become so important? - **UPI** allows instant bank-to-bank payments through mobile apps without requiring users to know detailed bank-account information for every transaction. - It was launched by **NPCI** in **2016** under **RBI** oversight and has become the dominant mode in India's digital-payments ecosystem. - Its success has also made **UPI** an important part of **India's Digital Public Infrastructure** and an increasingly exported payment model. ### Exam Connect - **UPI** → launched by **NPCI** in **2016** - **NPCI** → umbrella organisation for retail payments - **RBI** → regulatory oversight