IRCTC is expanding its payments arm, IRCTC Payments, to handle transactions across its ticketing platform and tap government clients, aiming to scale its annual payment processing to approximately 1 trillion.
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.
With NEFT, which drives the retail payments value, operationalised on a 24x7x365 basis, the country's payment systems landscape is headed for substantial growth.
Prime Minister Narendra Modi on Monday launched e-RUPI, a person and purpose specific digital payment solution that is aimed at improving transparency and targeted delivery of benefits. Over the years, several programmes have been launched to ensure that the benefits reach its intended beneficiaries in a targeted and leakproof manner, with limited touch points between the government and the beneficiary. The concept of electronic voucher takes forward this vision of good governance. To begin with e-RUPI facility is available for health services and will be expanded to other segments.
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.
RBI says polymer notes have a significantly longer lifespan, potentially reducing printing costs and replacement frequency.
A platform that helps retailers reduce failed transactions while keeping the cost down, Innoviti is all set for India's digital payments revolution.
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.
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.
RBI Deputy Governor Rohit Jain discussed the future of India's foreign exchange markets, highlighting the increasing role of local currencies in cross-border trade, the impact of technology, and existing challenges. He emphasised the need for market evolution to facilitate India's global engagement, absorb shocks, and serve all users efficiently. Jain also addressed concerns about unauthorised forex trading platforms and the importance of customer awareness.
While opening new accounts, banks can check if the name appears in any mule data. In case it does, the bank can conduct enhanced due diligence.
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.
Digital payments firm PhonePe has launched PulsePro, an enterprise intelligence platform providing businesses with aggregated and anonymised transaction data. This platform offers near real-time market insights at granular levels, helping companies track consumer spending, identify growth opportunities, and make informed expansion decisions across India.
N Sundaresha Subramanian digs deeper into what Catalyst, an Indo-US project, brings to the payments ecosystem.
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.
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.
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.
The highest number of frauds was reported under the card, Internet, and digital payments categories in FY24 and FY25. 'Advances' accounted for the largest share (85.5 per cent) in FY26.
Total payments in the economy grew 24.08 per cent to Rs117.43 trillion in value terms in June, compared to Rs94.64 trillion in May.
It's not about how much you earn -- it's about how you borrow and repay.
PhonePe has announced it has surpassed 700 million registered users on its platform. This milestone underscores PhonePe's extensive reach in India and its diverse digital offerings in payments and financial services. The company's growth is attributed to increasing consumer trust, a strong distribution network, and a focus on user-friendly digital payment experiences.
Out of all the reported digital payment frauds in India, over half (55 per cent) were United Payments Interface (UPI)-related, a new report released on Tuesday revealed. Another 18 per cent are card related, 12 per cent are related to internet banking and nine per cent are from phishing calls. Most of the UPI-related frauds, however, have a low ticket size.
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.
Dark patterns are no longer just a consumer protection concern, but a broader macroeconomic challenge affecting the long-term sustainability of India's digital commerce ecosystem.
Consumers can effectively make payments using UPI and other debit cards, credit cards and internet banking across 120 banks and over 120 billers, Xiaomi said.
Fintech giant PhonePe has announced it has surpassed 50 million registered merchants on its platform, marking a significant milestone as it expands its financial service offerings beyond QR code payments.
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.
Unified Payments Interface (UPI), the flagship payments platform of the National Payments Corporation of India (NPCI), touched a record high both in terms of volume and value of transactions in June after a slump in April and May. The platform recorded 2.8 billion transactions worth Rs 5.47 trillion in June, up 10.6 per cent in volume terms and 11.56 per cent in value terms over May. This is in sync with the opening up of the economy as Covid cases gradually came down from its peak in mid-May and lockdowns were eased in various places.
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.
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.
The proposed solution is a one-hour delay for digital transactions exceeding Rs 10,000, particularly when the transfer is made to a new or unverified beneficiary. The idea is simple -- give users a window to reconsider, detect fraud or alert their bank before the funds are irretrievably transferred.
Cash payments will be discontinued at toll plazas on national highways from April 10, with FASTag as the primary mode of payment and UPI as a fallback option at a higher charge.
For millions of Indians, this number has become one of the most important financial indicators. It can influence not only whether a bank approves a loan but also the interest rate you pay, the credit limit you receive and, in some cases, how quickly your application is processed.
Gautam Adani emphasised the importance of energy security and digital infrastructure in shaping geopolitical power, urging India to develop sovereign capabilities across the AI value chain.
The move comes amid growing demand from organisations in India for local access to Claude.
Customers will qualify for compensation even if they mistakenly share the OTP.
The Enforcement Directorate has seized handwritten notes and digital evidence during searches related to former Kerala Chief Minister Pinarayi Vijayan's daughter, Veena T. The agency alleges these notes detail fund transfers to Dubai and amounts handled beyond her known income, linking her to a money laundering probe involving Cochin Minerals and Rutile Ltd (CMRL) and her defunct company, Exalogic Solutions. Political leaders have condemned the probe as a vendetta.
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.
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.
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.
