The Payments Council of India has confirmed that Unified Payments Interface (UPI) services will continue to be free for consumers and small merchants, despite a recent Lok Sabha Bill. This clarification addresses concerns about potential charges, emphasising that while a sustainable financial model for UPI infrastructure is being developed, transaction charges will not be passed on to users or small businesses.
Parliament was informed that UPI has onboarded 55.49 crore users by June 2026, with transactions reaching 24,162 crore in volume and Rs 314 lakh crore in value in FY 2025-26. The platform, operated by NPCI, is expanding internationally through NIPL, facilitating cross-border payments and assisting other nations in building similar systems. Significant efforts are also underway by the Government, RBI, and NPCI to enhance the security and transparency of UPI transactions, including risk-based limits, security frameworks, and public awareness campaigns against cyber-crime.
India and Nepal have launched a peer-to-peer (P2P) cross-border remittance mechanism, linking India's UPI with Nepal's NPI. This system allows real-time money transfers via mobile banking, enhancing convenience for travellers and businesses, fostering financial inclusion, and strengthening economic ties between the two nations.
Zelle, a major US peer-to-peer payment service, is set to launch in India by the end of this year, marking its first international expansion. The move aims to tap into India's large remittance market, offering a service similar to UPI but integrated with bank apps. Zelle also introduced ZelleUSD, a stablecoin for future global payment capabilities.
A think tank, GTRI, has urged India to resist US pressure regarding its UPI policies, advocating for the defence of competition, policy autonomy, and the long-term sustainability of its payments ecosystem. This comes as the Lok Sabha passed a bill allowing charges on UPI transactions, a move GTRI suggests should not be influenced by foreign trade complaints.
A think tank, GTRI, has urged India to resist US pressure regarding its UPI policies, advocating for competition, policy autonomy, and a sustainable payments ecosystem. This comes as the Lok Sabha passed a bill allowing charges on UPI, and the US has criticised India's digital payment systems, raising concerns about the future of India's digital payment landscape.
UPI transactions in India reached record highs in May, driven by summer travel and the IPL, with transaction value hitting Rs 29.90 lakh crore and volume reaching 23.2 billion.
The move comes amid growing demand from organisations in India for local access to Claude.
It will enable real-time intel sharing among banks and other financial sector participants to strengthen customer protection against digital fraud.
Unified Payments Interface (UPI) transactions moderated slightly in June from a record high in May, reaching Rs 28.9 lakh crore. Despite a month-on-month decrease in volume, the daily average transactions hit a new high, indicating UPI's strong adoption for low-value payments. The platform also demonstrated significant annual growth and expanding international presence.
The National Payments Corporation of India (NPCI) is set to consider linking the ATM interchange fee to the Wholesale Price Index (WPI), alongside a potential hike from the current 19 to 21-22, which could impact customer charges for transactions beyond the free limit.
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).
Unified Payments Interface (UPI) has reached a record Rs 314 lakh crore in transaction value in FY26, representing more than a 4,000-fold increase since inception.
A good NEET score improves your chances of admission. But the counselling process ultimately determines which college and course you will join.
Unified Payments Interface (UPI) transaction value and volume saw a slight month-on-month dip in April after record highs in March, but daily transaction volumes increased, indicating sustained growth in digital payments across India.
An employee whose financial future is 60-80 per cent dependent on a single company's growth trajectory has no genuine safety net.
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.
Unified Payments Interface (UPI) transactions reached a record high in March, driven by festivities and the financial year closure, according to the National Payments Corporation of India (NPCI).
Rediff.com India Ltd, a subsidiary of AvenuesAI Ltd, has filed draft red herring prospectus (DRHP) with SEBI through the confidential pre-filing route, marking an important step towards a potential public listing after its acquisition and strategic shift to an AI-led digital platform.
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).
The Delhi Metro Rail Corporation has partnered with Airtel Payments Bank to launch co-branded RuPay National Common Mobility Cards (NCMC), enabling seamless payments across various transit networks nationwide.
The Indian government has allocated an additional 2 million tonnes of surplus broken rice from FCI stocks for its ethanol blending programme, while simultaneously issuing a detailed rebuttal to widespread misinformation regarding the E20 fuel, addressing concerns from water consumption to engine damage and environmental impact.
From April 1, 2026, the Reserve Bank of India's new authentication directions modernise how every digital payment you make must be verified -- and place the burden of security squarely on your bank, not on you.
Cyber intelligence firm CloudSEK reports that online fraudsters are using a new toolkit called 'Digital Lutera' to bypass security features of UPI apps and carry out fraudulent financial transactions.
India bought 1.87 million barrels of Russian oil per day in May so far, meeting approximately 40 per cent of its oil imports.
BJP leader V Muraleedharan dismisses claims that Prime Minister Narendra Modi would strike a deal with the Congress to target the CPI(M), stating Modi has 'better things to do'. He also questioned Kerala CM Pinarayi Vijayan's concern over ED raids if he has done nothing wrong.
Gujarat police have uncovered cyber frauds worth Rs 2,289 crore and arrested 638 individuals as part of 'Operation Mule Account 1.0', a state-wide crackdown on online criminals launched in 2025.
'We are profoundly energy-dependent on the Gulf. That dependency must now be redirected towards the United States, because we require American permission to procure oil.' 'We additionally require Iranian permission to acquire oil from that source. So India now has to seek two separate permissions merely to secure its energy supply.' 'Should we be compelled to source from America, or from Venezuela -- which is, in effect, American-controlled supply -- that will inevitably carry a price premium, an elevated shipping cost, and a considerably extended delivery timeline, given the distances involved.'
'Exploration should be made easier and companies should be given operational flexibility.'
An analysis of the disparities in India's sporting culture, highlighting the challenges faced by non-cricket athletes and the systemic changes needed for India to become a true sporting superpower.
'This will bring in a lot of net new users to UPI.'
Starting February 1, NPCI has enforced a new rule disallowing special characters in UPI transaction IDs. To ensure uninterrupted transactions, follow these steps.
Historically, India was a major buyer of Iranian crude, importing significant volumes of Iranian light and heavy grades due to strong refinery compatibility and favourable commercial terms.
If TVK MLAs and ministers are perceived as clean, or demonstrably cleaner than their predecessors, the credibility dividend will be enormous. The voter will feel rewarded, points out Ramesh Menon.
A software engineer earning a high salary allegedly abandoned his career to run a fake online trading racket, duping investors of nearly Rs 100 crore.
The National Company Law Tribunal (NCLT) has ordered the initiation of insolvency proceedings against Vishwajeet Jhawar, promoter of Marvel Group, following a petition by APRN Enterprises for outstanding debt.
'At the first sign of real trouble, that money will move. There will be a run.'
While UIDAI has given a nod for face authentication, banks need to join the process.
By enabling real-time data sharing, the platform will help prevent scams and ensure secure transactions.
A BJP government in Bengal inherits more problems than it might care to admit at its moment of triumph, points out Ramesh Menon
