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UPI Rule Change, Minimum Bank Balance: Key Money Changes From April 1
The beginning of a new financial year on April 1 brings a series of changes that will impact taxpayers, salaried individuals, and consumers across India.
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UPI Will Stop Working On These Mobile Numbers From April 1. Here's Why
UPI services will no longer work on mobile numbers that are inactive or reassigned starting April 1. The National Payments Corporation of India (NPCI) has directed banks and payment service providers (PSPs) to delink such numbers to prevent fraud and
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RBI To Allow Small Finance Banks To Extend Credit Lines Through UPI
The Reserve Bank on Friday proposed to allow small finance banks to extend pre-sanctioned credit lines through Unified Payments Interface (UPI).
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Paytm Gets Approval from NPCI to Enroll New UPI Users
Paytm has said that it has received approval from the country's payments authority to onboard new unified payment interface (UPI) users. The NPCI's approval comes after Paytm submitted a request earlier in August this year.
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JioFinance App With UPI, Utility Payments and Loan Functionality Launched in India
The JioFinance app was launched in India on Friday as a one-stop solution for financial essentials. It has been developed by Jio Financial Services Limited (JFSL), previously a subsidiary of Reliance Industries Limited. The app, which is now available widely for users in the country, offers facilities such as carrying out UPI transactions, monitori...
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How Rajasthan Gang Used UPI To Dupe Hyderabad Electronics Chain Of 4 Crore
Thirteen people have been arrested for allegedly cheating an electronics retail chain in Hyderabad of Rs 4 crore by using UPI as a mode of payment and then lodging a complaint with the bank to reverse the amount
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We Are Now Focusing On Making UPI, RuPay Truly Global: RBI Chief
RBI Governor on Wednesday said the central bank is focused on making UPI and RuPay 'truly global' and asked financial institutions and fintech startups to adapt robust frameworks to capitalise on new opportunities while mitigating connected risks.
-
RBI Raises UPI Limit to Rs. 5 Lakh for Tax Payments, Introduces Delegated Payments Feature
The Reserve Bank of India (RBI) recently announced an increase in limit of Unified Payments Interface (UPI) transactions for tax payments. The decision was made as a part of RBI’s Monetary Policy announcement last week. With this, users can now transact up to Rs. 5,00,000 while settling their tax liabilities. Earlier, this limit was kept at Rs. 1...
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Google Pay, PhonePe Other Payment Firms Seek to Join RBI's CBDC Pilot, Said to Offer eRupee Transactions
The RBI has started onboarding UPI platforms like Google Pay and PhonePe to the advanced trials of the eRupee CBDC. Payment firms are working closely with the RBI and National Payments Corporation of India (NPCI), the domestic payments authority, and are expected to roll out access to e-rupee over the next three-to-four months
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UPI One World Wallet Services Launched For NRIs, International Travellers by NPCI
UPI One World wallet service has been launched by the National Payments Corporation of India (NPCI) for non-resident Indians (NRIs) and international travellers visiting the country. The service was first announced last year during the G20 summit which India hosted. It will allow travellers who do not have an Indian bank account to access the Unifi...
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NPCI International Collaborates With Qatar National Bank to Launch QR Code-Based UPI Payments
NPCI International Payments Limited (NIPL), the international arm of the payments organisation, has signed an agreement with Qatar National Bank (QNB) to launch QR code-based Unified Payments Interface (UPI) payments across the country. With this move, Indian tourists and travellers can scan QR codes to make UPI payments across multiple retail touc...
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India To Create A Cross-Border Retail Payment Platform With 4 ASEAN Countries
Nexus, conceptualised by the Innovation Hub of the Bank for International Settlements (BIS), aims to connect India's UPI with the fast payment systems of ASEAN members.
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UPI Lite Wallets To See Big Change Soon: Here's How You May Benefit
The Reserve Bank of India (RBI) has proposed to introduce auto-replenishment of UPI Lite wallets and bring the online transaction facility under the e-mandate framework.
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RBI, NIPL Working to Expand UPI to 20 Countries by 2028-29: RBI Annual Report
RBI (Reserve Bank of India) and NPCI International Payments Ltd (NIPL) are working on expanding UPI to 20 countries by 2028 or 2029, according to RBI's annual report. The central bank is in talks with central banks of various countries for entering into collaborative arrangements according to the Payments Vision Document 2025.
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Online Payment Frauds Jump Over 400 Percent in India, RBI Data Shows
Digital payment frauds in India saw a 400 percent jump in the year ended March 2024, according to the Reserve Bank of India's (RBI) annual report. Data from the central bank shows that the value of transactions on UPI jumped 137% in the past two years to 200 trillion rupees, while the rise in online transactions is also boosted by cheap access to t...
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UPI Rule Change, Minimum Bank Balance: Key Money Changes From April 1
The beginning of a new financial year on April 1 brings a series of changes that will impact taxpayers, salaried individuals, and consumers across India.
-
UPI Will Stop Working On These Mobile Numbers From April 1. Here's Why
UPI services will no longer work on mobile numbers that are inactive or reassigned starting April 1. The National Payments Corporation of India (NPCI) has directed banks and payment service providers (PSPs) to delink such numbers to prevent fraud and
-
RBI To Allow Small Finance Banks To Extend Credit Lines Through UPI
The Reserve Bank on Friday proposed to allow small finance banks to extend pre-sanctioned credit lines through Unified Payments Interface (UPI).
-
Paytm Gets Approval from NPCI to Enroll New UPI Users
Paytm has said that it has received approval from the country's payments authority to onboard new unified payment interface (UPI) users. The NPCI's approval comes after Paytm submitted a request earlier in August this year.
-
JioFinance App With UPI, Utility Payments and Loan Functionality Launched in India
The JioFinance app was launched in India on Friday as a one-stop solution for financial essentials. It has been developed by Jio Financial Services Limited (JFSL), previously a subsidiary of Reliance Industries Limited. The app, which is now available widely for users in the country, offers facilities such as carrying out UPI transactions, monitori...
-
How Rajasthan Gang Used UPI To Dupe Hyderabad Electronics Chain Of 4 Crore
Thirteen people have been arrested for allegedly cheating an electronics retail chain in Hyderabad of Rs 4 crore by using UPI as a mode of payment and then lodging a complaint with the bank to reverse the amount
-
We Are Now Focusing On Making UPI, RuPay Truly Global: RBI Chief
RBI Governor on Wednesday said the central bank is focused on making UPI and RuPay 'truly global' and asked financial institutions and fintech startups to adapt robust frameworks to capitalise on new opportunities while mitigating connected risks.
-
RBI Raises UPI Limit to Rs. 5 Lakh for Tax Payments, Introduces Delegated Payments Feature
The Reserve Bank of India (RBI) recently announced an increase in limit of Unified Payments Interface (UPI) transactions for tax payments. The decision was made as a part of RBI’s Monetary Policy announcement last week. With this, users can now transact up to Rs. 5,00,000 while settling their tax liabilities. Earlier, this limit was kept at Rs. 1...
-
Google Pay, PhonePe Other Payment Firms Seek to Join RBI's CBDC Pilot, Said to Offer eRupee Transactions
The RBI has started onboarding UPI platforms like Google Pay and PhonePe to the advanced trials of the eRupee CBDC. Payment firms are working closely with the RBI and National Payments Corporation of India (NPCI), the domestic payments authority, and are expected to roll out access to e-rupee over the next three-to-four months
-
UPI One World Wallet Services Launched For NRIs, International Travellers by NPCI
UPI One World wallet service has been launched by the National Payments Corporation of India (NPCI) for non-resident Indians (NRIs) and international travellers visiting the country. The service was first announced last year during the G20 summit which India hosted. It will allow travellers who do not have an Indian bank account to access the Unifi...
-
NPCI International Collaborates With Qatar National Bank to Launch QR Code-Based UPI Payments
NPCI International Payments Limited (NIPL), the international arm of the payments organisation, has signed an agreement with Qatar National Bank (QNB) to launch QR code-based Unified Payments Interface (UPI) payments across the country. With this move, Indian tourists and travellers can scan QR codes to make UPI payments across multiple retail touc...
-
India To Create A Cross-Border Retail Payment Platform With 4 ASEAN Countries
Nexus, conceptualised by the Innovation Hub of the Bank for International Settlements (BIS), aims to connect India's UPI with the fast payment systems of ASEAN members.
-
UPI Lite Wallets To See Big Change Soon: Here's How You May Benefit
The Reserve Bank of India (RBI) has proposed to introduce auto-replenishment of UPI Lite wallets and bring the online transaction facility under the e-mandate framework.
-
RBI, NIPL Working to Expand UPI to 20 Countries by 2028-29: RBI Annual Report
RBI (Reserve Bank of India) and NPCI International Payments Ltd (NIPL) are working on expanding UPI to 20 countries by 2028 or 2029, according to RBI's annual report. The central bank is in talks with central banks of various countries for entering into collaborative arrangements according to the Payments Vision Document 2025.
-
Online Payment Frauds Jump Over 400 Percent in India, RBI Data Shows
Digital payment frauds in India saw a 400 percent jump in the year ended March 2024, according to the Reserve Bank of India's (RBI) annual report. Data from the central bank shows that the value of transactions on UPI jumped 137% in the past two years to 200 trillion rupees, while the rise in online transactions is also boosted by cheap access to t...
