Additionally, the RBI and the NIPL recently collaborated to take UPI to around twenty nations by the financial year 2029. As per the annual report of the RBI, along with the European Union and the South Asian Association for Regional Cooperation, the Indian government is also looking forward to exploring the Fast Payment System (FPS). The RBI report says, ““In light of goals for Viksit Bharat 2047, the Reserve Bank, along with NPCI International Payments Ltd. (NIPL), will work towards taking UPI to 20 countries with an initiation timeline of 2024–25 and a completion timeline of 028–29."