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.
A 20-year-old man was arrested for allegedly posing as an employee of a digital payment platform and duping shopkeepers in East Delhi by claiming to check defective sound boxes.
India's banking system liquidity has fallen into a deficit for the first time in nearly three months, prompting the Reserve Bank of India (RBI) to inject 1.41 trillion through a seven-day variable rate repo (VRR) auction to ease the temporary tightness.
Authorised push payment frauds have emerged as a growing challenge globally as scammers increasingly rely on social engineering techniques to persuade users to transfer money voluntarily, making recovery more difficult even when transactions are authenticated.
The Reserve Bank of India (RBI) has introduced its 'Payments Vision 2028' document, outlining initiatives to enhance digital payment security, introduce electronic cheques, and expand regulatory oversight to include e-commerce entities.
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.
Swift and global banks are launching a new system to make international payments faster and cheaper for small businesses and consumers, starting with major global markets.
Two-factor authentication for all digital transactions, including UPI, is now mandatory in India, as per RBI guidelines, to enhance security and curb fraud.
The CBSE revaluation portal experienced a cyber attack, affecting the payment system and leading to unauthorised access for approximately 50 students. The incident caused fee display abnormalities, prompting investigations and system enhancements.
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.
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.
Persistent Systems announced an agreement to integrate a team from Concise, a software engineering and IT consulting company, to expand its Eastern European footprint.
The Central Board of Indirect Taxes and Customs (CBIC) has enabled UPI, debit, and credit card payments for Customs duty on the ICEGATE portal, enhancing ease of doing business for importers and exporters.
Union Education Minister Dharmendra Pradhan has directed officials to address issues faced by students regarding the CBSE examination system, following allegations of irregularities. The government has committed to transparency and accountability, assuring that all genuine concerns will be addressed effectively.
The Federation of Indian Pilots (FIP) on Thursday renewed its demand for a judicial probe into the AI-171 crash and urged authorities not to release any interim investigation report, saying it would create further confusion and speculation.
Credit card transactions in India have surged over 2.6 times between 2021 and 2025, reaching 570 crore volumes and Rs 23.2 lakh crore in value, with private sector banks significantly increasing their market share, according to a recent RBI report.
Credit card transactions in India have surged over 2.6 times between 2021 and 2025, driven by private sector banks, while debit card usage declines due to growing adoption of UPI and digital wallets, according to an RBI report.
A senior Microsoft executive says India is uniquely positioned to lead the next phase of global AI deployment, driven by a massive developer base, rapid enterprise adoption, and robust digital public infrastructure.
Two individuals have been arrested for allegedly tampering with the CCTV surveillance system at the M Chinnaswamy Stadium during an IPL match between RCB and GT. The accused reportedly disrupted surveillance coverage by damaging network video recorder systems and optical fibre connections.
It will allow users to purchase Facebook 'credits', then use those credits to buy virtual goods from the third-party applications that run on the site, or from Facebook itself.
The Reserve Bank of India (RBI) on Wednesday released draft guidelines for streamlining the onboarding and monitoring of Aadhaar Enabled Payment System (AePS) operators to counter frauds perpetuated through the ecosystem. Banks and the National Payments Corporation of India (NPCI) are required to comply with these directions within three months from the date of issue of the guidelines.
The Reserve Bank of India (RBI) has cancelled the banking licence of Paytm Payments Bank, citing that the bank's affairs were conducted in a manner detrimental to the interests of the bank and its depositors, and its management was prejudicial to public interest.
The players, who will be graded in three categories, will get Rs 50 lakh, 35 lakh and 20 lakh per year respectively under the new contracts system.
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.
The Reserve Bank of India (RBI) has proposed several measures to develop a more conducive framework for the long-term growth of Prepaid Payment Instruments (PPIs), including enhanced transaction security and clearer rules on refunds and grievance redressal.
A government mandate requiring central public sector enterprises to use the Trade Receivables Discounting System (TReDS) for settling small business invoices is expected to significantly increase volumes on these platforms.
Major credit issuers, including the largest - HDFC Bank - have integrated their systems with the Bharat Bill Payment Systems (BBPS) for receiving credit card repayments via third-party applications.
Formerly Iran's second-largest oil customer, Indian financial institutions were forced to withhold crude oil payments following the 2018 US sanctions.
The Competition Commission of India (CCI) on Monday ordered a detailed probe against internet giant Google for alleged unfair business practices with respect to Google Pay as well as Google Play's payment system. Google Pay is a popular digital payments platform while Google Play is the app store on its Android ecosystem.
'There has to be a safe harbour for licensed entities, which have followed all the norms prescribed by the RBI.'
'Dark patterns exploit human psychology, cognitive biases, urgency, confusion, or lack of attention to increase revenue for digital platforms at the expense of consumer choice and transparency.'
"The system covering all central government departments and ministries is expected to eliminate almost two crore cheques. When it becomes fully operational in civil ministries, defence and railways, it is expected to cover a total payment of over Rs 6 lakh crore," Pranab said...
The Reserve Bank of India (RBI) is developing digital public infrastructure and payments intelligence platforms using artificial intelligence and application programming interfaces to improve customer experience and strengthen the payments ecosystem.
E-commerce major Flipkart has announced significant appointments to its technology leadership team, bringing in experts in artificial intelligence, data science, fintech, and core engineering. These strategic hires, including Goda Ramkumar, Mohan Palisetti, and Nitesh Jain, are aimed at strengthening Flipkart's capabilities in these critical areas to better serve India's expanding digital consumer and seller base.
E-commerce major Flipkart has announced significant appointments to its technology leadership team, bringing in experts in artificial intelligence, data science, fintech, and core engineering. These strategic hires, including Goda Ramkumar, Mohan Palisetti, and Nitesh Jain, are aimed at strengthening Flipkart's capabilities in these critical areas to better serve India's expanding digital consumer and seller base.
'It is a tradeoff between convenience and fraud prevention.'
We have Yoga Day. We have Hindi Day. We have, I am fairly certain, so many days, though I have never met anyone enjoying these days, notes Binu Alex.
The regulator said that it is vested within its purview to regulate the bank account for payment systems and the settlement systems are finally posted in the books of account of banks with the RBI to attain settlement finality.
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.
A new report indicates that UPI has become the dominant payment method for lenders, accounting for over 90% of transactions. The report also highlights trends in investment amounts, diversification strategies, and geographic participation in peer-to-peer lending.
