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Starting January 1, 2025, a slew of regulatory and financial changes will be coming into effect, affecting citizens across the country. From changes in the Employees’ Provident Fund Organisation (EPFO) procedures to adjustments in LPG pricing and the Unified Payments Interface (UPI), the new year could have a significant impact on your wallet. Here’s a…
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Daily UPI transactions in October crossed 535 million in volume. New Delhi: The Unified Payments Interface (UPI)-based digital transactions continued to surge and in the month of October, the country saw 16.58 billion transactions worth Rs 23.5 lakh crore, the highest numbers since the UPI became operational in April 2016. According to data shared by…
Read More “UPI Sets New Record With 16.5 Billion Transactions Worth Rs 23 Lakh Crore In October” »
New Delhi: Surpassing world’s leading digital payments platforms, India’s Unified Payments Interface (UPI) processed nearly Rs 81 lakh crore transactions in the April-July period this year, which is a staggering 37 per cent increase (year-on-year). According to latest data by global payments hub Paysecure, UPI processed 3,729.1 transactions per second — a 58 per cent…
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UPI is India’s mobile based, ‘fast payment’ system that facilitates customers to make round the clock payments instantly using a Virtual Payment Address (VPA) created by the customer. | Photo Credit: Photo Credit: X/@UPI_NPCI “India and South East Asian nation Cambodia are negotiating collaboration in Unified Payment Interface-based (UPI) digital payment to promote trade and…
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Representational Image New Delhi: India will again delay caps on market share for a popular digital payments method, two sources told Reuters, benefiting Google Pay and Walmart-backed PhonePe as the authorities prioritise growth over concerns about market concentration. The National Payments Corporation of India (NPCI), the quasi-regulator, will extend by as much as two years…
Ghana is an important trading partner of India in the African region. (File) New Delhi: India and Ghana have agreed to operationalise Unified Payment Interface (UPI) with Ghana Interbank Payment and Settlement Systems within six months in order to enable instant fund transfers for users in both countries, the Commerce Ministry said on Monday, The…
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Image for representation only | Photo Credit: C. Venkatachalapathy The Reserve Bank of India has proposed to facilitate cash deposit facility in banks through the use of UPI, an instant real-time payment system for inter-bank transactions through mobile phones. ALSO READ | RBI Monetary Policy LIVE updates “Given the popularity and acceptance of UPI, as…
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Reserve Bank of India Governor Shaktikanta Das. File | Photo Credit: PTI Digital Rupee users will soon be able to execute transactions in areas with limited internet connectivity as the Reserve Bank of India (RBI) on February 8 announced that offline capability will be introduced on the Central bank digital currency (CBDC) pilot project. RBI…
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National Payments Corporation of India’s (NPCI) Unified Payment Interface (UPI) being formally launched at the Eiffel Tower on February 2, 2024 | Photo Credit: PTI India on Friday formally launched UPI at the iconic Eiffel Tower here, terming it as taking Prime Minister Narendra Modi’s vision of taking UPI global. “UPI formally launched at the…
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