India, Sept. 9 -- Prime Minister Narendra Modi on Tuesday exhorted the fintech ecosystem to further expand the global reach of India's unified payments interface (UPI), connect it with other countries' local systems and help the diaspora save on remittance costs.

In his address after inaugurating the 7th edition of the Global Fintech Fest, Modi said the Indian economy's 7.8 per cent real GDP expansion gave confidence to the world at large because the performance came in a challenging quarter when the impact of the West Asia conflict was the highest.

Urging the fintech (financial technology) ecosystem to not rest on the laurels of the past decade that saw real-time payments using UPI rise to 24.51 billion transactions, as of August this ...