Overview

• RBI Deputy Governor T. Rabi Sankar announced the three launches at Global Fintech Fest 2025.
• UPI Multi‑Signatory adds approval‑based payments for joint and multi‑signatory accounts with full interoperability across UPI and bank apps for initiators and approvers.
• UPI Lite on smart glasses enables small, hands‑free payments by scanning a QR and using voice authentication without a phone or PIN, easing bank load through off‑CBS wallet execution.
• Bharat Connect is linked to the CCIL/FX‑Retail platform to provide transparent, real‑time USD pricing for currency notes, forex card loads, or outward remittances.
• Axis Bank, Federal Bank, ICICI Bank, State Bank of India and Yes Bank are the initial Forex on Bharat Connect participants, with access via bank channels and TPAPs such as CRED and MobiKwik.