Bhubaneswar, Oct. 26 -- Union Finance Minister Nirmala Sitharaman on Sunday said the Unified Payments Interface (UPI) has emerged as the world's largest real-time payment system, processing nearly 80 crore transactions a day and transforming the way Indians access and use financial services.

Highlighting the rapid expansion of digital payments, Sitharaman said UPI transactions have increased nearly 13,000-fold since 2016-17. The platform now handles more than 2,400 crore transactions a month, reflecting the growing adoption of digital payments in everyday life.

She said the fintech ecosystem built around UPI and other digital initiatives was also expanding access to financial services, including credit, insurance and investment products...