The Employees' Provident Fund Organisation (EPFO) will soon allow subscribers to withdraw their EPF and transfer it directly to their bank accounts through the UPI payment gateway. Testing of the facility has been completed, according to Labour Minister Mansukh Mandaviya.
UPI transactions reached 22.35 billion in April, marking a 25 per cent increase compared to April 2025. UPI now accounts for 85 per cent of all digital transactions in India and is live in eight countries.
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 proposed facility seeks to simplify and speed up PF withdrawals by allowing Employees' Provident Fund Organisation (EPFO) subscribers to access up to 75 per cent of their balance through ATMs and UPI-based systems, while retaining at least 25 per cent in their accounts.
Delhi Police have arrested a 32-year-old man in connection with a mobile phone theft case linked to fraudulent UPI transactions worth over Rs 1.2 lakh.
'It is a tradeoff between convenience and fraud prevention.'
The Employees' Provident Fund Organisation (EPFO) is set to introduce UPI-linked withdrawals by the end of May, as it finalises testing for its Centralised IT Enabled System (CITES) 2.0 overhaul, aiming to streamline PF balance transfers and withdrawals.
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.
Unified Payments Interface (UPI) transactions in India reached a record high in March, with 22.64 billion transactions, marking a significant increase from the previous year and highlighting the growing adoption of digital payments.
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).
Investigators probing the murder of Chandranath Rath, a close aide of West Bengal CM Suvendu Adhikari, have found a key lead in the form of a UPI transaction made at a toll plaza in Howrah.
Unified Payments Interface (UPI) transactions in India reached a record high in March, driven by increased adoption and global expansion. The system now accounts for 85% of digital transactions in India and is live in eight countries.
Jio Payments Bank introduces UPI-based cash withdrawals at business correspondent touchpoints, enhancing financial inclusion and simplifying access to cash for rural and semi-urban customers.
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.
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.
This would imply a 29 per cent year-on-year rise, significantly lower than growth rates seen in recent years.
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.
Credit card adoption is rapidly expanding beyond India's major metropolitan areas into Tier-II and Tier-III cities, driven by increasing incomes, digital awareness, and the integration of RuPay credit cards with UPI, according to a new report by SBI Card.
Police in Himachal Pradesh have arrested five individuals for allegedly assaulting a man and forcing him to transfer money via UPI.
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.
A 39-year-old driver in Delhi, employed by a family for 15 years, has been arrested for allegedly exploiting an elderly Alzheimer's patient and siphoning off Rs 2.57 lakh through unauthorised UPI transactions.
Gujarat cyber police have arrested 13 individuals allegedly involved in a network responsible for 982 cyber crimes across India, resulting in losses of over Rs 631 crore.
NPCI BHIM Services Ltd is expanding the BHIM app to feature phones to increase financial inclusion and diversify revenue through financial product distribution. The app aims to double its market share and is focusing on partnerships with banks and new features like UPI Circle.
West Bengal Police have arrested three individuals from Uttar Pradesh and Bihar in connection with the murder of Chandranath Rath, an aide to Suvendu Adhikari. The arrests followed leads from a UPI transaction made at a toll plaza.
A State Bank of India report indicates a sharp increase in precautionary cash holding in India, with the gap between per capita currency in circulation and ATM withdrawals widening significantly, driven by global uncertainties despite record digital payment transactions.
The CBI has registered an FIR in the alleged murder of Chandranath Rath, an aide to West Bengal Chief Minister Suvendu Adhikari, taking over the investigation from the state police following a request from the state government.
Delhi Police have arrested a man from Rajasthan for allegedly running an online shopping fraud racket, cheating people through fake social media advertisements offering discounted branded suits and sarees.
The CBI has registered an FIR in the alleged murder of Chandranath Rath, an aide to West Bengal Chief Minister Suvendu Adhikari, taking over the investigation from the state police following a request from the state government.
Following regulatory action against Paytm Payments Bank Ltd (PPBL), Paytm strategically separated its core operations, a move praised by analysts for preserving business continuity and governance. This separation has enabled Paytm to sustain growth and improve profitability.
Three individuals have been arrested in Uttar Pradesh in connection with the murder of Chandranath Rath, an aide to West Bengal Chief Minister Suvendu Adhikari. The arrests were made by a Special Investigation Team (SIT) probing the case.
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 LDF has filed a complaint with the Election Commission alleging that UDF candidate Reji Cheriyan engaged in cash-for-vote practices during the Kuttanad Assembly election campaign.
Delhi Police have arrested a 26-year-old man for allegedly siphoning off Rs 1.48 lakh from his paralysed brother-in-law's bank accounts after gaining the family's trust as his caretaker.
Paytm (One 97 Communications Ltd) has stated that the Reserve Bank of India's action on Paytm Payments Bank Ltd (PPBL) has no financial or business impact on the company. The fintech firm clarified it has no material business arrangements or exposure with the banking entity, which operates independently.
A labourer was allegedly kidnapped from a train in Thane by an individual posing as an RPF officer, who then demanded ransom from the victim's family.
Police in Lucknow have arrested four people for allegedly using ChatGPT and graphic design software to create and sell fake IPL tickets outside the Ekana Stadium.
The CBI has registered an FIR in the alleged murder of Chandranath Rath, an aide to West Bengal Chief Minister Suvendu Adhikari, taking over the investigation from the state police following a request from the state government.
The Enforcement Directorate (ED) has attached properties worth Rs 1.06 crore in connection with the 'Global Media App' fraud, an online earning platform that allegedly generated over Rs 45 crore through illicit means.
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