Bengaluru, January 24: Infosys co-founder N.R. Narayan Murthy has showered praise on the Reserve Bank of India (RBI) for transforming the Unified Payments Interface (UPI) into a true public good. Speaking at an event in Bengaluru, Murthy described the RBI as a catalyst, generous, visionary, and always empowering institution that has made digital payments affordable, accessible, and trustworthy for every Indian.
Murthy emphasized that by keeping UPI low-cost and universally available, the RBI has earned the trust of ordinary citizens and extended digital payment infrastructure to every corner of society. ‘When a country has leaders with big ambitions and pure intentions, they possess the power to transform the nation,’ he remarked during the discussion at IIM Bengaluru’s Center for Digital Public Goods.
Drawing from his vast experience, Murthy stressed the importance of aligning words with actions in leadership. ‘Values are not built through speeches but through deeds. Strong values, discipline, robust leadership, and compassionate capitalism propel society and the nation forward,’ he said.
He highlighted the need to document institutional histories in India—chronicling challenges faced, leaders’ shortcomings, team complexities, and experiences with new technologies. These ‘institutional memories’ form the bedrock of progress. Murthy’s key takeaway: make code public and low-cost to prevent monopolies and foster innovation.
‘High-quality leaders are essential to drive innovation on a solid foundation,’ he added. Advising students, Murthy urged future leaders to live simply, shun ostentation, and embrace sensitive capitalism to boost entrepreneurship and national growth.