CURRENT AFFAIRS

Detailed explanation-1: -In October 2021, the BHIM UPI platform surpassed a record of $100 billion in value (₹7.71 lakh crore) with over 4.2 billion digital transactions. Earlier in 2021, Bhutan became the first country to adopt the BHIM UPI for their digital transactions after the approval of the Royal Monetary Authority of Bhutan.

Detailed explanation-2: -UPSC Mains Q. Which neighbouring country is the first to adopt India’s BHIM UPI payments system? Notes: Bhutan becomes the very 1st nation to adopt India’s UPI (Unified Payment Interface) standards for its quick response (QR) code mechanism.

Detailed explanation-3: -RuPay, UPI See Global Adoption Besides, nations such as France, Bhutan, Nepal, Malaysia,Oman and the United Kingdom have also adopted the state-backed UPI. The NIPL has adopted a multi-pronged approach to expand its services across the globe.