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A comment on Why peer to peer digital payment system UPI should remain free in India.

Re:Why peer to peer digital payment system UPI should remain... by sudhirj on Tuesday September 13, 2022 @12:05PM (#32826124)
A lakh is 100,000 and a crore is 10 million, or 10,000,000.

In India, the next order of magnitude after 10,000 is one lakh (hundred thousand) and a crore is a hundred lakhs (100 x 100,000 or 10M).

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Re:Why peer to peer digital payment system UPI should remain... by ignoramous on Tuesday September 13, 2022 @12:19PM (#32826362)
The context is UPI ... has reached volumes of 10 lakh crore rupees per month

1,000,000 * 10,000,000 => 1E13/mo rupees => $125,000,000,000/mo

Google, Facebook, Amazon, Walmart are all shareholders in the parent company that runs UPI along with some 19 other Indian banks.

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Re:Why peer to peer digital payment system UPI should remain... by MAMAMassakali on Tuesday September 13, 2022 @12:46PM (#32826776)
UPI is owned by NPCI(National Payments Corporation of India) which in turn is owned 67 share holders. Top 10 share holders are major banks and they hold around 80% shares. Other owners are smaller banks, other non banking financial institutions and Google(GooglePay), Amazon(AmazonPay), Flipkart/Walmart(PhonePe) etc.
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