<h1>RBI Approves UPI Implementation for Easy Money Transfers; Increases ATMs and Approves Payment Banks for Financial Inclusion.</h1> The Reserve Bank of India has granted in-principle approval to the National Payments Corporation of India to implement the Unified Payments Interface (UPI), enabling both 'Push' and 'Pull' money transfers via smartphones. UPI simplifies transactions by using virtual addresses instead of detailed account information and supports interoperability for person-to-merchant payments. Additionally, the number of ATMs of Scheduled Commercial Banks increased significantly from 2013 to 2015, with a notable rise in debit card transactions. RBI has also approved 11 applicants to establish payment banks aimed at enhancing financial inclusion, targeting underserved communities with secure, technology-driven services.