This would imply a 29 per cent year-on-year rise, significantly lower than growth rates seen in recent years.
Moving beyond digital payments, the National Payments Corporation of India (NPCI), the operator of Unified Payments Interface, is planning to add more muscle to the country's digital infrastructure by setting up a fourth subsidiary, NPCI Tech Solutions Ltd (NTSL).
The amount involved in banking system frauds surged to Rs 21,515 crore in the first half of FY26, up 30 per cent from the same period last year, even as the number of frauds fell 2.8 times to 5,092.
As India's biggest Unified Payments Interface (UPI) app PhonePe prepares to list, the updated draft red herring prospectus (DRHP) shows the impact of regulations on the business, and concentration of payments-linked revenue even as UPI lacks MDR (merchant discount rate).
In its June 2025 review, the International Monetary Fund spotlighted India's Unified Payments Interface as the world's most dominant retail instant-payment network, moving more transactions than any other system on the globe.
'The first time India has seen two consecutive blockbuster IPO years.'
'Just like oral hygiene, cyber hygiene must become a daily habit,' says Beena Vaheed, executive director, Bank of Baroda. 'It is not enough to rely only on banks, companies, or the government. Each of us must play our part.'
'This will bring in a lot of net new users to UPI.'
It will enable real-time intel sharing among banks and other financial sector participants to strengthen customer protection against digital fraud.
'The real story of 2025 is that India officially stopped being a 'market of the future' and started acting as the world's primary economic engine.'
Officials from both India and the US in the recent past have indicated that a "fair deal" will be concluded soon, with Indian officials holding that more formal rounds of talks are not needed.
Users experienced difficulties with UPI payments due to technical issues in some banks' systems. NPCI stated that its systems are operational and it is working with banks to resolve the problems.
About 85 per cent of the digital payment transactions take place through UPI in India, and the country can be a case study in inclusive, secure, and scalable Digital Public Platforms (DPPs), Reserve Bank Governor Sanjay Malhotra has said. He was speaking at a "High-Level Dialogue on Forging Economic Resilience through Digital Public Platforms" organised by RBI on the sidelines of the Annual Meetings of the World Bank and International Monetary Fund in Washington, DC on Tuesday.
With a confident new generation of innovators, India now has the scale and self-belief to shape its own digital destiny marked by creation, observes Ajay Kumar chairman, UPSC.
India has nearly 490 million online gamers, and an estimated Rs 10,000 crore is spent every month on online gaming transactions.
'When you think of cross-border payments, the first things that come to mind are risk, compliance, taxation, speed, and cost.'
As deposit growth lags credit expansion, Indian banks face shrinking low-cost Casa inflows, rising funding costs, and structural shifts driven by UPI, e-Kuber, and digital savings trends, points out Tamal Bandyopadhyay.
UPI crossed 20 billion monthly transactions for the first time in August 2025, with a transaction value of Rs 24.85 trillion.
'There is a debit execution failure which is because there is not enough money in the user's bank account.'
'Reinvention is not a hugely difficult task. With technology as available today, you can reinvent yourself pretty quickly.'
Let's work flat out and create a policy framework that fosters the growth of Indian non-family business VC and private equity firms. This will allow our Indian startups' dreams to flourish, explains Ajit Balakrishnan.
Nearly 7 out of every 10 P2M UPI transactions take place in high frequency categories like groceries, restaurants, pharmacies, fuel service stations, bakeries and utility services such as electricity, gas, water and sanitation.
SBI customers faced difficulties in accessing UPI and mobile banking services for more than four hours on Tuesday due to some "technical issues". The country's largest lender later said the technical issues have been fully resolved.
Finance Minister Nirmala Sitharaman on Tuesday asked fintech firms to focus on risk management at a time when criminals are using AI to mimic voices, clone identities and create lifelike videos to manipulate people.
Several executives argue that UPI has the potential to grow tenfold, but warn that the absence of a monetisation model risks stagnating the real-time payments system, which has been recording all-time-high transaction volumes every year.
In a significant breakthrough, the Malerkotla Police apprehended two individuals for alleged involvement in espionage activities linked to a Pakistani official posted at the High Commission in New Delhi, said Punjab Director General of Police (DGP) on Sunday.
We propose an expert group be set up to form a national strategy on digital fraud. This group would bring together skills in financial regulation, security economics, cyber defence, and public communications, and an understanding of the Indian financial and security systems. It should lay the foundations of a coordinated approach by the Indian State in fighting digital fraud, suggest Ajay Shah and Nandkumar Saravade.
Prime Minister Narendra Modi on Monday said Parliament's Monsoon session is like a 'Vijay Utsav' as the Indian armed forces achieved their objectives under Operation Sindoor 100 per cent, and expressed confidence that the MPs will articulate this sentiment in one voice.
Google Pay, PhonePe, and Paytm may deliberately delay transactions, issue fraud alerts, and require an extra layer of user confirmation before processing any transactions that are likely to be classified as fraudulent.
Digipin promises to revolutionise location-based services in India with safeguards.
'The next decade will be even more transformative,' says Prime Minister Modi. 'We are moving from digital governance to global digital leadership.'
This marks a 67% increase from the Rs 2,537 crore lost in scams in 2022-2023.
She has been booked under the relevant sections of the Official Secrets Act and the Bharatiya Nyaya Sanhita, said the police.
UPI topped Rs 24 trillion in value of transactions and 19 billion in volume for the first time after becoming operational in April 2016.
UPI has catapulted India into the forefront on the global digital payments landscape. Working hand in hand, the AePS payments system is making life easy for rural folks, notes Tamal Bandyopadhyay.
'The introduction of a reasonable MDR for large merchant transactions will allow the industry to continue investing in innovation, cybersecurity, grievance redressal, and merchant support, ultimately ensuring that UPI continues to thrive.'
'Illegal gambling operators are systematically exploiting India's advertising and payment infrastructure, siphoning off crores of rupees from outside the country.'
The CII Business Summit 2025's inaugural session witnessed a rousing standing ovation and a felicitation ceremony for the defence top brass sending a strong message about India's rising military industrial complex and hghlghting that security is a top-of-the-mind issue for India Inc.
'My job is to provide people with a bouquet of options they can choose from.'
One97 Communications Ltd (OCL), the company that operates the Paytm brand, posted a consolidated loss of Rs 539.8 crore in the fourth quarter of 2024-25 (Q4FY25), slightly lower from the Rs 549.6 crore it reported in Q4FY24. Sequentially, the fintech company's loss widened from Rs 208.3 crore in Q3FY25 on account of a one-time exceptional expense amounting to Rs 522 crore during the quarter ended March 2025.
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