Business EconomyPosted at: Sep 12 2026 8:50PM


IIIT-Hyderabad releases book on evolution of UPI

Hyderabad, Sept 12 (UNI) The International Institute of Information Technology-Hyderabad (IIIT-Hyderabad) on Saturday marked the release of “Cashless Nation: How UPI Changed Everything”, authored by Dr Santanu Paul and B. Sambamurthy, tracing the evolution of the Unified Payments Interface (UPI) and India's emergence as a digital payments powerhouse.
Published by Penguin Random House, the book was released in the presence of former Reserve Bank of India Governor Dr D. Subbarao, G.V. Prasad, Srini Raju and U.B. Desai.
The book presents a multi-decade account of the development of India's digital payments ecosystem and looks at the personalities, institutional decisions, technological innovations and implementation efforts that contributed to the transformation.
The authors note that UPI, which completed 10 years this year, has become widely used across different sections of the economy, ranging from street vendors and kirana stores to doctors, restaurants and e-commerce businesses.
The book also examines the growth of UPI in the context of India's efforts towards financial inclusion and draws on interviews with people involved in its development.
Speaking at the event, Dr D. Subbarao said UPI had evolved from a payment product into an open and interoperable public infrastructure that had contributed to financial inclusion and enabled private innovation.
He said the transformation was the result of institutional choices, technological innovation and sustained execution, and described the book as an account of the journey behind the development of UPI.
IIIT-Hyderabad Director Prof Sandeep Shukla congratulated the authors and said the book documented an important transformation in India's move towards a cashless economy.
He said UPI had made the world take note of India's capabilities in payment technology.
The authors have been associated with NPCI and IDRBT and have served on various boards and committees in India's financial sector. Their combined experience in technology and banking provides perspectives on the development of the country's payments ecosystem.
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