Mumbai: M Nagaraju, Secretary, Ministry of Finance, says, "UPI growth has been very substantial even now, but one challenge we have is bringing entire communities living in tribal and rural areas into a formal financial system. At many places, we also have the challenge of the internet. Therefore, offline transactions and rural transactions are our challenge. Therefore, if you notice, a large number of fintechs are actually innovating and connecting the rural communities and also offline products. Once we do that, I think the entire country will be on the formal financial system and will be able to do digital payments... The Government has only said we are not imposing MDR (Merchant Discount Rate) charges..."
#watch | Mumbai: M Nagaraju, Secretary, Ministry of Finance, says, "UPI growth has been very substantial even now, but one challenge we have is bringing entire communities living in tribal and rural areas into a formal financial system. At many places, we also have the challenge… pic.twitter.com/huXNTi0hb2
— ANI (@ANI) October 7, 2025











