SBI Report: India Needs Fully Homegrown UPI App to Reduce Foreign Dependence

According to an SBI report, India’s UPI ecosystem is currently dominated by foreign-owned platforms like PhonePe, Google Pay, and Paytm, raising concerns about data control and innovation. With PhonePe leading in transactions, the report stresses the urgent need for a strong, indigenous UPI app. A fully homegrown solution could safeguard