UPI 2.0

In yet another innovation related to ATM and cash withdrawal, a tech company has introduced a new concept of withdrawing cash: UPI. This whole concept is based on UPI 2.0, which enables QR code based transactions.

RBI governor Urjit Patel, State Bank of India (SBI) chairman Rajnish Kumar and Nandan Nilekani, the non-executive chairman of Infosys were present during the launch.

BHIM’s latest 1.5 version on Android and iOS now allows bill payments for all users. As per the changelog observed, there are several categories within BHIM app, using which any user can pay bills via UPI platform.