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).
A 61-year-old man from Mangaluru was allegedly cheated of Rs 2.07 crore by cyber fraudsters posing as officials of central investigative agencies in a 'digital arrest' scam, police said.
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.
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.
Life Insurance Corporation (LIC) has launched two new mobile applications, MyLIC for policyholders and Super Sales Saathi for its sales intermediaries, aiming to enhance digital agility and cater to the younger generation's needs. The apps, part of LIC's DIVE digital transformation platform, offer features like policy management, premium payments, and personalised recommendations.
Rajasthan Police have issued an advisory warning citizens about potential cyber fraud attempts disguised as part of the ongoing digital census. Scammers may use various methods, including fake calls, messages, and in-person visits, to steal personal and financial information.
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.
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.
Delhi Police have dismantled a fraudulent call centre in Pitampura, arresting 19 individuals for allegedly defrauding people nationwide by posing as representatives of a finance company offering fake loans and insurance schemes.
Delhi LG Taranjit Singh Sandhu addressed the Global Confluence 2026, emphasising the importance of maintaining a human element at the heart of digital nation-building. He highlighted India's digital transformation and the role of technology in improving lives, while urging a focus on inclusive development and national security.
DBS Bank India has launched a direct tax payment facility after authorisation from the Central Board of Direct Taxes (CBDT). Utkarsh Small Finance Bank partners with Mumbai Indians as banking partner for T20 League 2026.
A platform that helps retailers reduce failed transactions while keeping the cost down, Innoviti is all set for India's digital payments revolution.
PhonePe has launched the 'RuPay On-The-Go' Card, a National Common Mobility Card (NCMC) aimed at digitising transit payments across India. The card enables quick, tap-and-pay transactions on NCMC-enabled services like metros, buses, and trains, even without internet connectivity.
Delhi Police have busted a racket selling counterfeit branded garments and accessories in Vasant Kunj, arresting one person and seizing a large stock of fake products.
The Swadeshi Jagran Manch (SJM) is advocating for the termination of the moratorium on customs duties for electronically transmitted digital products, arguing that it hinders self-reliance, causes revenue losses, and restricts India's ability to tax emerging technologies like AI.
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.
This would imply a 29 per cent year-on-year rise, significantly lower than growth rates seen in recent years.
Prime Minister Narendra Modi is promoting India as a global hub for digital infrastructure and artificial intelligence, highlighting the government's incentives for data center investments and inviting the world's data to reside in India.
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), 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.
Kochi city cyber police have recovered over 1 crore stolen from an 81-year-old man through a 'digital arrest' online fraud. The incident occurred in November when the man was defrauded of around 1.30 crore. Police intervention led to the recovery of 1.06 crore from a bank in Jammu and Kashmir.
Markets regulator Sebi on Tuesday proposed introducing gift cards or gift prepaid payment instruments (PPIs) for investments in mutual funds to improve financial inclusion through onboarding of new investors in the space.
The Uttarakhand Special Task Force has arrested the alleged mastermind of a cheating racket in an SSC recruitment examination from Saharanpur in Uttar Pradesh. The accused, Shubham Bhatnagar, allegedly provided remote access to candidates to solve papers illegally.
Lashkar-e-Taiba (LeT) terrorist Abdullah, alias Abu Hureira, who was tasked with establishing bases outside Jammu and Kashmir, adopted various professions, including share trading, to blend in with the local population. He was recently arrested along with other members of his network.
A cybersecurity expert warns that cyberattacks are increasingly targeting critical infrastructure, posing direct risks to human lives beyond mere data theft. The convergence of IT and OT expands the attack surface, making sectors like aviation, transport, and public utilities highly vulnerable.
'First-time applicants may witness longer approval times or higher rejection rates and requests for more documentation.'
Haryana Chief Minister Nayab Singh Saini released over 2,115 crore directly into the bank accounts of beneficiaries under various welfare schemes, benefiting over 58 lakh eligible individuals.
The FM said there has been a manifold increase in digital payments in the recent past.
The Reserve Bank of India (RBI) has introduced stricter timelines for banks to process inward cross-border remittances, aiming to reduce delays in crediting funds to beneficiaries by mandating immediate customer intimation and more frequent nostro account reconciliation.
Delhi Police have arrested two individuals for allegedly defrauding a man of approximately Rs 4.35 lakh in an online gas bill booking scam. The victim was tricked into installing a malicious mobile application that allowed the fraudsters to siphon off funds.
A man impersonating an aide of Congress leader Rahul Gandhi has been arrested in Dehradun for allegedly swindling crores of rupees from ticket-seekers in multiple states.
Two individuals have been arrested for allegedly tampering with the CCTV surveillance system at the M Chinnaswamy Stadium during an IPL match between RCB and GT. The accused reportedly disrupted surveillance coverage by damaging network video recorder systems and optical fibre connections.
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.
India has launched its first integrated phygital service centre in Umri village, Madhya Pradesh, aiming to provide online services and boost rural development through digital connectivity and various essential services.
Fino Payments Bank (Fino) has become the first such entity to get an in-principle approval from the Reserve Bank of India (RBI) to transition into a small finance bank (SFB).
Police in Himachal Pradesh have arrested five individuals for allegedly assaulting a man and forcing him to transfer money via UPI.
Delhi Police have dismantled an interstate cyber fraud syndicate, arresting 14 individuals allegedly involved in fraudulent transactions exceeding Rs 8 crore. The accused targeted job seekers with fake work-from-home opportunities via social media and job portals.
Samsung has revealed a bespoke Galaxy Z Flip7 Olympic Edition, crafted solely for competitors at the Milano Cortina 2026 Winter Olympics and Paralympic Winter Games.
OTP scams accounted for over one-fourth of all cyber frauds.
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