The updated version of UPI commonly known as UPI 2.0 is set to be launched by the National Payments Corp of India today at an event in Mumbai. RBI Governor Urjit Patel along with SBI chairman Rajnish Kumar and Nandan Nilekani, the non-executive chairman of Infosys, is expected to formally launch the updated version. As per sources, around 10 banks will join UPI 2.0 from the beginning including the likes of SBI, HDFC Bank, Axis Bank, ICICI Bank and Yes Bank among others. The other banks are in multiple stages of updating the payment product. Though UPI 2.0 will miss the main attraction of automated recurring payments, it will now bring in features like overdraft facility, IPO subscription, block feature on digital payments etc.