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It's a $12 phone in case anyone else misread it too.
UPI appears to be a protocol that banks implement that allow banking to be done on these $12 feature phones.1 It kind of proves how beneficial constraints can be.

Footnotes

I wonder how far are we from something like this $12 phone being able to run a lightning wallet (even if hosted, like WoS...).
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The protocol they're using probably isn't very special.
You could probably run a stripped down WoS (just functionality) on one of these devices today. I'd guess the main hurdle is app store approval.
1.4 billion potential bitcoiners in India
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