The goal is to ensure that your bank works for you, providing liquidity and convenience without charging you for the privilege of holding your own money.
UPI processed an average 802 million transactions a day in September, about 1 per cent more than the 792 million a day over the same period in August.
75% of India's 60 million digital-payment merchants have never recorded a transaction above 2,000.
Trade and business associations across India are organising a 'No UPI Day' on October 2 to protest the upcoming 0.4 per cent merchant discount rate (MDR) on Unified Payments Interface (UPI) transactions exceeding 2,000, effective from October 15.
The Reserve Bank of India (RBI) has introduced new features for India's digital payment ecosystem, including UPI tap-to-pay for PIN-less transactions up to 5,000 and multi-currency capabilities for forex on Bharat Connect, supporting Euro, British Pound, and other major currencies.
India's UPI International payment system is now playing a crucial role in humanitarian efforts, enabling seamless disaster relief donations from Indian users to Nepal's Prime Minister Disaster Relief Fund, showcasing its growing global acceptance and utility beyond tourism. UPI IMAGE: Kindly note that this image has been posted for representational purposes only. Photograph: Unsplash Key Points UPI International, initially for Indian tourists, is now facilitating disaster relief donations to Nepal's Prime Minister Disaster Relief Fund. The embassy of Nepal in India is actively encouraging Indian users to utilise their UPI apps for these contributions. This marks a significant shift, expanding UPI's cross-border use case beyond tourism to include inbound collection for foreign governments. The move positions UPI International alongside global payment giants like Alipay+ and UnionPay for international aid. Donors need to activate the UPI International feature on their apps to transact, with amounts converted from INR to NPR.
The biggest challenge to widespread deployment is no longer AI. It is the financial and commerce infrastructure that was built decades ago for deterministic software and human interactions -- not autonomous AI agents.
Indian crypto exchanges and companies have expressed strong support for the Central Board of Direct Taxes' (CBDT) new Crypto Asset Reporting Framework (CARF), which mandates reporting and due-diligence obligations for crypto service providers on all transactions starting 2026.
'...A new challenge has emerged in the form of Mythos.'
India is increasingly focusing on long-range weapons capable of reaching targets across China.
'There has to be a safe harbour for licensed entities, which have followed all the norms prescribed by the RBI.'
ICICI Bank is seeking recoveries of at least 100 crore from fintech firms, alleging merchant misclassification of their business, a practice that has eroded the bank's interchange income. The dispute, lodged with global card network Visa, highlights growing discomfort among banks and intensified scrutiny from the Reserve Bank of India.
'PM Modi is trying to reduce the volume of fuel consumed instead of raising prices sharply.'
IRCTC is expanding its payments arm, IRCTC Payments, to handle transactions across its ticketing platform and tap government clients, aiming to scale its annual payment processing to approximately 1 trillion.
'It is a tradeoff between convenience and fraud prevention.'
Only 2.5 per cent of the equity in Jio Platforms will be offloaded through the OFS route -- meant for secondary share sale.
Goldman Sachs has materially lowered its earnings growth forecast for Indian companies by a cumulative 9 percentage points over the next two years.
Following a ban on real-money gaming, Dream Sports, the parent company of Dream11, is strategically expanding its portfolio across 11 companies, including a new venture into wealth management and stockbroking, with a focus on serving a mass user base through AI-first solutions, cofounder Harsh Jain confirmed.
Hiring demand strongest in ecommerce, tech startups, healthcare, and energy sectors, with Bengaluru, Hyderabad, and Pune leading.
'Being an important institution in the banking system, we are subject to regulatory supervision, both offsite and onsite.' 'When you look at the intensity at which these levels of supervision come, we, on the board and in management, believe there should not be any surprises.'
