Jan 30, 2021Liked by Rahul Sanghi

Hello, this was a nice write-up.

Regarding the last point on UPI, I would like to point out that the government has recently capped the market share for third-party UPI apps (like Google Pay, PhonePe, etc. but not Paytm, etc.) to a maximum of 30%.

Expand full comment
Oct 9, 2021Liked by Aaryaman.Vir, Rahul Sanghi

What a thoughtful and inspired summary. This is a great and extensive introduction to India Stack and would help anyone get a base for further reading who is curious about digital governance, infrastructure problem solving, and State-as-platform approaches to policy. Excellent work!

Expand full comment

Fantastic write-up as always. Thought I would let you know that you were referenced in this recent post by Balaji Srinivasan in case you haven't seen it yet: https://balajis.com/why-india-should-buy-bitcoin/ Looking forward to your next post!

Expand full comment
Jan 28, 2021Liked by Rahul Sanghi

Hello Aaryaman/Rahul

Appreciate your write up which very clear, comprehensive. I teach elements of IndiaStack in different courses in my engineering college. For my students, I have composed a Indiastack search utility which helps people to discover related resources and also an annotated bibliography on Indiastack. You may view the same here https://indiastack.blogspot.com . You may share it with interested

Expand full comment
Oct 26, 2021Liked by Rahul Sanghi

I just discovered this and your blogs are amazing. Very detailed while also being easy to understand

Expand full comment
Sep 27, 2021Liked by Rahul Sanghi

Thanks Vir and Sanghi for this brilliant read. Very insightful, and gives a comprehensive understanding to a novice in fintech matters. I have been enjoying the benefits of UPI as a financial consumer, and it is fantastic to know the incredible work that has gone on behind the scene. This is an amazing start to a deeper ecosystem research that I am on to. In fact, India Stack is a story of setting up an ecosystem of ecosystems, if I may say so! Thanks once again.

Expand full comment
May 24, 2021Liked by Rahul Sanghi

Hi Aayo & Rahul,

This is a great write up. It's ridiculous (on my part) how late I've arrived at this goldmine of a blog - Tigerfeathers (love the name & meaning). The content you'll have put out, clearly shows the deep work you'll have put in to this. Super keen to go through everything you'll have shed light on and published! Keep up the good work!

Look forward to reading, sharing, and spreading the word!

Best Wishes, Nikhil K

Expand full comment
Jan 27, 2021Liked by Rahul Sanghi

well narrated, empirical, and gives a fresh perspective to otherwise invisible steps within a 'leapfrog' development. Will keep watching the space for more. thanks

Expand full comment
Jan 18, 2021Liked by Rahul Sanghi

This is one of the best articles I have read on UPI. Extremely well researched and the narrative is well structured. High quality writing. Kudos!!

Expand full comment
Jan 17, 2021Liked by Rahul Sanghi

Hello Rahul and Aryaman.

Firstly, all your posts are very well researched, written and comprehensive. Great job!

Secondly, as a reader I would love to have an index before the start of each of these long posts briefly describing what the section shall go into. Coz for a reader of my pace it takes me around 2 hours spread over 2-3 days to cover its contents. A kind of index would make my life a lot easier.

Thank you

Expand full comment

Hey Vishal - thank you for the kind words and the helpful feedback. Great point re adding an index. Our preference has typically been to suck the reader into the story right from the start, but we will definitely try to make things a little easier with better organisation up front for future essays.

Expand full comment


Happened to read your " The Internet Country" Great write. I teach elements of Indiastack in engineering course. Have a look at https://indiastack.blogspot.com

Expand full comment
Jan 16, 2021Liked by Rahul Sanghi

well written and comprehended with good examples for better understanding of use cases

Expand full comment
Jan 15, 2021Liked by Rahul Sanghi

Very well written and comprehensive report.

Expand full comment

hey guys great read ,you have left me with this bullish feeling for India. Cheers for that

btw these 2 links aren't working

.UPI technical explainer:

.India’s Digital Leap: The Multi-Trillion Dollar Opportunity:

would be grateful if you can fix em


Expand full comment

Great write up. You mention "In 2009, only 17% of Indian adults possessed a bank account", yet the source you cited says "In 2008....around one in four Indian adults had a bank account"

The 17% figure you cite appears to be in relation to the gender gap figure in 2011.

Expand full comment

Great write up, Rahul and Aaryaman!

Expand full comment

A very well written article. Explains the concepts behind Aadhar, UPI, the Data stack and their uses.

Aadhar has indeed made authentication very easy. The UPI payments are. Brezze, to the extent one forgets to take cash.

One major disadvantage of the Aadhar data is the name field. By combining and having a single field for name instead of First, Middle and Surname, it has created a mismatch between Aadhar and other databases to the extent that enrolment centers do not accept a passport as valid document for Aadhar enrolment or correction.

Expand full comment