Today's Brief 21/07/2025

1 .Unified Payments Interface (UPI):

(General Studies-III (250 marks)Technology, Economic Development, Biodiversity, Environment, Security, and Disaster Management)

The International Monetary Fund (IMF) has recognized India as a global leader in fast payments, with the Unified Payments Interface (UPI) system being the key driver of this success.

An IMF note, titled "Growing Retail Digital Payments: The Value of Interoperability,"

highlights the remarkable growth and impact of UPI, which has become the backbone of India's digital payments ecosystem.

The report emphasizes that UPI accounts for a staggering 85% of all digital transactions within India and nearly half of all real-time digital payments worldwide.

This impressive growth is further underscored by data showing that UPI now handles more transactions daily than major global players like Visa, with its volume in June 2024 alone surpassing 18.39 billion transactions.

The IMF attributes UPI's success to its interoperable design, which allows for seamless transactions between various banks and payment applications.

Beyond its transactional volume, UPI is also lauded for its role in promoting financial inclusion, effectively bringing digital financial services to millions of individuals and small businesses, particularly in rural and semi-urban areas.

This has led to a noticeable decline in cash usage, as indicated by a drop in ATM withdrawals.

The IMF's recognition positions UPI as a global benchmark for public digital infrastructure, showcasing India's pioneering role in creating an accessible and inclusive digital payments landscape.

2 .The 88th session of the Executive Committee of the Codex Alimentarius Commission (CCEXEC 88)

(General Studies-III (250 marks)Technology, Economic Development, Biodiversity, Environment, Security, and Disaster Management)

was held at the Food and Agriculture Organization (FAO) Headquarters in Rome, Italy, from July 14th to 18th, 2025.

This session served as a key meeting for reviewing and advancing global food safety and quality standards.

A significant outcome of the meeting was the recognition of India's leadership in food standards.

The committee praised India's role in developing a group standard for whole millet grains, which had been approved during the previous Codex Alimentarius Commission (CAC47) session.

The work is being chaired by India, with co-chairs from Mali, Nigeria, and Senegal, showcasing a collaborative effort in promoting millets globally.

Beyond these specific standards, India's contributions to the committee included co-chairing new proposals to develop standards for fresh turmeric and fresh broccoli.

India also actively participated in discussions on the Codex Strategic Plan 2026–2031, advocating for outcome-based and measurable monitoring indicators.

The Indian delegation, composed of officials from the Ministry of Health and Family Welfare and the Food Safety and Standards Authority of India (FSSAI), also highlighted its capacity-building programs for neighboring countries, which were recognized by the FAO.

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