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“The Impact of Unified Payment Interface (UPI) On Small Business: A Study with Reference to Bangalore City”

BY

BASAVESH S

SATHVIK VH

Under the Guidance of

DR. PARUL TANDAN

Associate Professor

DAYANANDA SAGAR BUSINESS SCHOOL BANGALORE-560078

2023-2025

CHAPTER – 1 INTRODUCTION
UPI, abbreviation for Unified Payment Interface is an instant real-time payment system developed by National Payments Corporation of India facilitating inter-bank transactions. The interface is regulated by the Reserve Bank of India and works by instantly transferring funds between two bank accounts on a mobile platform. As of March 2019 there are 141 banks live on UPI with a monthly volume of 799.54 million transactions and a value of ₹1.334 trillion (US$19 billion). UPI witnessed 1,029.44 crore transactions till August 2019. The mobile-only payment system helped transact a total of ₹17.29-lakh crore during the 37 months of operation starting from 2016.

Participants in UPI
·                              Payer PSP

·                              Payee PSP

·                              Remitter Bank

·                              Beneficiary Bank

·                              NPCI

·                              Bank Account holders

·                              Merchants