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.
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.
In August, RBI allowed 11 business houses to start a payments bank.
'Taxpayers should not ignore any of these notices. Verifying the facts and responding promptly can help resolve issues early and avoid unnecessary litigation.'
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Of the 11 licence holders, only eight remain in the fray as concerns about profitability and rising competition are making them think twice before jumping in.
RBI says polymer notes have a significantly longer lifespan, potentially reducing printing costs and replacement frequency.
The Employees' Provident Fund Organisation (EPFO) is set to credit the 8.25 per cent interest on provident funds for FY26 to 34 crore member accounts by July 15, enabled by its new centralised IT system (CITES). This upgrade promises enhanced operational efficiency, transparent services, and easier access to PF details and claims for members.
Mobile payments pioneer Paytm reported significant growth in its UPI payments business for Q1 FY27, driven by app simplification, AI investments, and a focus on attracting Gen Z customers. The company saw a 45% year-on-year increase in Consumer UPI Gross Transaction Value and a rise of 60 lakh in Monthly Transacting Users, outpacing the industry. Paytm's strategy prioritises customer retention and product innovation, leading to a profitable quarter with strong revenue and EBITDA growth, further supported by AI-led operational efficiencies and an India-focused language model.
Under bullet repayment, the principal remains outstanding and unpaid interest raises the liability over time. This makes the LTV ratio more vulnerable to a sharp fall in gold prices.
Fintech unicorn Razorpay has confidentially filed draft documents with SEBI for an Initial Public Offering, with market sources estimating the issue size between Rs 5,000-6,000 crore. This move comes as a rival firm, PhonePe, has paused its IPO plans.
Jaitley said banking network is expanding hugely and the health of banks reflects on the challenges for the economy.
Bank of Baroda has partnered with Reliance Jio to provide access to its mobile banking application, 'bob World Lite', for users of Jio feature phones, aiming to promote financial inclusion and digital payments.
'...A new challenge has emerged in the form of Mythos.'
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.
Payment banks may not be viable option to attain financial inclusion.
The PM CARES Fund experienced a 30 per cent decrease in domestic donations and an 18 per cent drop in foreign contributions during the fiscal year 2024-2025. Despite this, the total balance in the fund increased to Rs 8,452 crore, primarily held in fixed deposits and savings accounts. The fund's expenditure on the PM CARES for Children Scheme also saw a sharp reduction.
Telecoms investor Aditya Birla Nuvo Ltd and retailer Future Group were among the first big names to apply for licenses to run so-called payments banks
It will carry out most banking operations like accepting deposits but can't advance loans or issue credit cards.
Regulators will need to allow the model to evolve to allow profits to flow, says Una Gulani.
A total of 41 companies had applied for the permit
Airpay Payment Services has partnered with Maharashtra State Co-operative Bank (MSCB) to enable UPI-based digital payments across the lender's network in Maharashtra, aiming to accelerate financial inclusion in rural areas.
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.
The board is likely to take up the matter this month.
To deepen the financial inclusion process, and help get more people under the formal financial system, the RBI has mooted the idea of small banks and payments banks.
Abhijeet Dipke, founder of the Cockroach Janta Party (CJP), has called for the PM CARES Fund, which holds over Rs 8,452 crore, to be used to improve infrastructure in rural schools and build more than 1,000 new high-tech schools, highlighting the dire conditions faced by children.
Most public sector banks, flush with deposits now, offer 3-4% interest on savings deposits, while a few private sector banks go up to 6%.
The Kerala Sports Department has submitted its confidential inquiry report regarding the controversy surrounding the proposed visit of football legend Lionel Messi and the Argentina team to the state during the previous government's tenure.
Education loan defaults carry serious consequences. Credit bureaus record missed payments against both the student and the co-borrower, usually a parent.
Public sector banks in India are increasing their IT spending to bolster cybersecurity measures in response to concerns about Anthropic's Claude Mythos AI tool and its potential to exploit vulnerabilities in financial systems.
LAMF allows investors to access liquidity while staying invested.
...and 3 lakh for harassment.
Bharti Airtel aims to leverage its 180 million plus digital service customers and its wide presence in rural areas to grow its payment bank business. "We are well placed as we can leverage the 180 million plus customers we have across our digital assets. "We offer a plethora of services such as lucrative interest rates, gift cards, FASTag, telecom recharges, payments and debit cards. "Our large merchant base of more than eight million allows us to drive both engagement and monetisation.
Payments banks are niche banks set up by the Reserve Bank of India to further the agenda of financial inclusion.
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.
'Improved law and order and transparent governance have helped change UP's investment image.'
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.
The Paytm Payments Bank will be headquartered in Noida and kick off its services from east and north to begin with
Taxpayers must provide more details to support deduction and exemption claims.
A school teacher in Ajmer was defrauded of Rs 3.66 lakh by cyber criminals who lured her with a fake online offer to buy a rare Rs 5 note for Rs 48 lakh.
The RBI has doubled the limit of maximum balance that an individual customer can hold with payments banks to Rs 2 lakh from Rs 1 lakh earlier with immediate effect to expand the ability of such lenders to cater to the needs of MSMEs and other businesses.
