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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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 platform that helps retailers reduce failed transactions while keeping the cost down, Innoviti is all set for India's digital payments revolution.
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.
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.
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.
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 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.
'It is a tradeoff between convenience and fraud prevention.'
Customers will qualify for compensation even if they mistakenly share the OTP.
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.
Gurugram police have arrested five individuals in connection with a Rs 42.92 lakh digital arrest scam. The fraudsters posed as CBI officers, intimidated a victim, and coerced them into transferring a large sum of money. The arrested individuals include account holders and those who withdrew the defrauded cash.
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 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.
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.
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.
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.
N Sundaresha Subramanian digs deeper into what Catalyst, an Indo-US project, brings to the payments ecosystem.
The government plans to expand its central bank digital currency (CBDC)-based food subsidy programme to Chandigarh, Dadra and Nagar Haveli, and Daman and Diu by June, following its implementation on a pilot basis in Gujarat and Puducherry, official sources said.
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.
Rediff.com India Ltd, a subsidiary of AvenuesAI Ltd, has filed draft red herring prospectus (DRHP) with SEBI through the confidential pre-filing route, marking an important step towards a potential public listing after its acquisition and strategic shift to an AI-led digital platform.
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 reached a record high in March, driven by festivities and the financial year closure, according to the National Payments Corporation of India (NPCI).
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.
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.
15 states have rolled out unconditional cash transfer schemes for women, with an estimated annual outlay of around Rs 1.7 trillion covering nearly 120 million beneficiaries.
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.
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.
Police in West Bengal have arrested three individuals from Uttar Pradesh in connection with the murder of Chandranath Rath, an aide to BJP leader Suvendu Adhikari. The arrests follow an investigation involving digital clues and interstate links.
The primary objective of introduction of polymer notes was to increase its life and not to combat counterfeiting.
Cash remains dominant for many transactions despite continued expansion in digital payments across the country.
