Digital payments across the country registered a growth of nearly 29 per cent in a year through March 2022, as per the RBI's latest index that measures the adoption of online transactions. The newly constituted RBI's digital payment index (RBI-DPI) stood at 349.3 in March 2022 against 304.06 in September 2021 and 270.59 per cent in March 2021. "The RBI-DPI index has demonstrated significant growth, representing the rapid adoption and deepening of digital payments across the country in recent years," the RBI said in a statement on Wednesday.
RBI says polymer notes have a significantly longer lifespan, potentially reducing printing costs and replacement frequency.
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.
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.
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.
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.
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.
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.
Bhubaneswar police have busted a fraudulent digital escort service racket, arresting four individuals for allegedly misusing women's photographs on social media and cheating customers through online payments. The investigation, initiated by a woman's complaint, led to the seizure of digital evidence and a public advisory against such scams.
One 97 Communications Ltd, operating Paytm, is set to issue its first bonus shares, following a landmark year of achieving its maiden full-year profit and gaining significant market share. The board will meet on July 20 to decide on the bonus issue, reflecting confidence in its financial strength and aiming to improve stock accessibility for retail investors.
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.
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.
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.
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.
A platform that helps retailers reduce failed transactions while keeping the cost down, Innoviti is all set for India's digital payments revolution.
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) has reached a record Rs 314 lakh crore in transaction value in FY26, representing more than a 4,000-fold increase since inception.
Three alleged cyber fraudsters, including the mastermind, have been arrested in Gorakhpur for operating a fake merchant QR code racket. They used forged documents and mule accounts to channel money from cyber crimes, with transactions worth crores of rupees linked to cases across several states.
Following alleged thefts at the Ram temple in Ayodhya and other incidents, prominent temples across India, including Baba Balak Nath Temple in Himachal Pradesh and Ambaji temple in Gujarat, are implementing stringent new rules for counting offerings. These measures include mandatory pocketless clothing for staff, extensive CCTV surveillance, metal detector frisking, and promoting digital payments to ensure transparency, honesty, and accountability in donation management.
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.
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.
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.
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.
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.
N Sundaresha Subramanian digs deeper into what Catalyst, an Indo-US project, brings to the payments ecosystem.
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.
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.
With NEFT, which drives the retail payments value, operationalised on a 24x7x365 basis, the country's payment systems landscape is headed for substantial growth.
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.
Customers will qualify for compensation even if they mistakenly share the OTP.
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.
The Central Bureau of Investigation (CBI) has alleged that the NEET-UG 2026 paper leak was orchestrated through an extensive digital network, with confidential question papers circulated via WhatsApp, Telegram, and electronic files among conspirators days before the examination.
'It is a tradeoff between convenience and fraud prevention.'
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), 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.
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.
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 Reserve Bank of India has updated its e-mandate framework, allowing card issuers to map existing mandates to reissued cards and clarifying rules around transaction limits and customer grievance redressal.
