A 39-year-old software engineer in Bengaluru lost Rs 11.8 crore to fraudsters who impersonated police officials and claimed his Aadhaar card was being misused for money laundering. The victim was threatened with "digital arrest" and tricked into transferring money to various bank accounts over a period of time, believing his family would be arrested if he didn't comply. The fraud occurred between November 25 and December 12, and police have registered a case under the IT Act and relevant sections of the Bharatiya Nyaya Sanhita (BNS) for cheating and cheating by impersonation. Further investigation is underway.
Digital services work best when the seller designs a system where default options are designed to help the buyer, says Debashis Basu.
Around 30-50 million passengers in the reserved category have switched over to digital payments.
India's net revenues from the Goods and Services Tax (GST) rose at a three-month high pace of 10.7 per cent in August even as growth in gross collections slowed to 6.5 per cent from 7.5 per cent in the previous month, thanks to a nearly 20 per cent decline in refunds to taxpayers during the month.
Before signing up for a BNPL plan, read the fine print carefully and watch for red flags like unclear repayment terms, vague information on interest or late fees, and marketing that downplays the cost of default.
The Supreme Court has sought responses from the Centre and others on a plea challenging the validity of a provision of the Income Tax Act that allows political parties to receive "anonymous" cash donations below Rs 2,000.
In this month itself, UPI can hit 2 billion transactions and by March 2021, it should reach 2.15 billion transactions in a month.
As a volunteer you'll need to meet people and educate them about the benefits of going cashless by going digital.
Bharti Airtel aims to leverage its 180 million plus digital service customers and its wide presence in rural areas to grow its payment bank business. "We are well placed as we can leverage the 180 million plus customers we have across our digital assets. "We offer a plethora of services such as lucrative interest rates, gift cards, FASTag, telecom recharges, payments and debit cards. "Our large merchant base of more than eight million allows us to drive both engagement and monetisation.
The FM said there has been a manifold increase in digital payments in the recent past.
Reserve Bank of India governor Shaktikanta Das on Monday said payments through UPI (unified payment interface) have grown exponentially in the past 12 months with daily transactions crossing 36 crore, which is up 50 per cent from 24 crore in February 2022. In value terms, these transactions are worth Rs 6.27 lakh crore, registering a growth of 17 per cent from Rs 5.36 lakh crore in February 2022, the governor told reporters while launching the Digital Payments Awareness Week at the RBI headquarters in Mumbai this afternoon. He also said the overall monthly digital payment transactions crossed over Rs 1,000-crore-mark each month during the past three months.
President Droupadi Murmu addressed the nation on the eve of Independence Day, praising the response to terrorism, highlighting achievements in defense self-reliance, and emphasizing unity and progress.
UPI topped Rs 24 trillion in value of transactions and 19 billion in volume for the first time after becoming operational in April 2016.
'Allocating 5 to 10 per cent of one's portfolio and staying disciplined through market cycles helps in having a positive investment experience.'
Monthly and seasonal suburban railway tickets purchased through digital mode will get 0.5 per cent discount from January 1
Digital transaction players are hurriedly drawing up a memorandum to be taken to the central bank in hope of having a few of the guidelines -- such as full Know Your Customer (KYC) compliance in 12 months -- overturned, reports Karan Choudhury
Traders in Karnataka are raising concerns over GST demand notices based on UPI transaction data. A tax official defends the action, stating it's within the law and recipients can respond with documentation.
Organise your PAN, Form 16, Form 26AS, AIS, and all other proofs before e-filing.
Amazon customers can now use their Rs 2,000 notes to top up their Amazon Pay balances during cash-on-delivery orders, as it offers a doorstep solution to ease the stress of exchanging such currency. Customers can deposit cash of up to Rs 50,000 per month, including notes of Rs 2,000 denomination, Amazon said. The cash load at doorstep service by Amazon Pay is helping consumers convert high-value notes for digital 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.
European Union (EU) companies operating in India want New Delhi to streamline or remove non-tariff barriers such as Quality Control Orders (QCOs), complex Customs procedures; simplify labelling, testing, and import procedures; and facilitate cross-border digital transactions without data localisation constraints. These are results of a Business Sentiment Survey, 2025 conducted by the Federation of European Business in India (FEBI) ahead of resumption of negotiations for a free trade agreement (FTA) between both the sides scheduled to be concluded by year-end.
The Income-Tax (I-T) Department has detected widespread tax evasion involving cryptocurrencies and, according to media reports, has issued emails to thousands of defaulting taxpayers seeking transaction details. Investors must understand the tax rules governing crypto assets and respond promptly to these emails.
The minister also exempted components from taxes to encourage domestic manufacturing of these devices.
India's gifting market is seeing its biggest festive season yet, with sales through quick commerce platforms like Zepto, Blinkit and Instamart jumping 40%-50% year-on-year.
India's mergers & acquisitions (M&As) market recorded deals worth $45.44 billion in the first half of 2025, up nearly 3.3 per cent from a year ago, even as ultra large-ticket transactions remained subdued. During the first half, the 7.1 per cent rise in deal count to 1,614 signals continuing appetite among domestic conglomerates and private equity (PE) funds for mid-sized and smaller assets.
While digitisation and automation have made internal processes more efficient, front-end products are being enhanced digitally through robotics, artificial intelligence and botchats.
The Indian government has introduced a bill in the Lok Sabha to ban online games played with money, aiming to curb addiction, money laundering, and financial fraud. The bill also targets advertisements and financial transactions related to such games.
Unified Payments Interface (UPI) clocked over 6 billion transactions in July: the highest ever by India's flagship digital payments platform since its inception in 2016. UPI reported 6.28 billion transactions amounting to Rs 10.62 trillion, according to data released by the National Payments Corporation of India (NPCI), which operates the platform. Month-on-month, the volume of transactions was up 7.16 per cent and value increased 4.76 per cent.
Andhra Pradesh police identified one of the terror suspects arrested by Tamil Nadu police as a 'big fish' with advanced bomb-making skills. The suspect, Abubacker Siddique, is believed to be a lone wolf influenced by radical preacher Zakir Naik and an expert in making IEDs.
'The only solution is for the government to allow us to charge a low controlled MDR of 25 bps on UPI P2M transactions only for merchants with more than a Rs 40 lakh turnover.'
'This marks a turning point for Paytm, with the regulatory environment looking much clearer than it has been in the last two years.'
The Reserve Bank of India on Friday permitted banks to increase charges on ATM cash withdrawals beyond the mandatory free monthly usage by Rs 2 to Rs 23 per transaction from May 1.
For the time being, digital lending remains a grey area, notes Tamal Bandyopadhyay.
President Droupadi Murmu's address to the nation on the eve of the 79th Independence Day.
Surge in UPI transactions is because of an increased consumer interest in making bill payments and recharging mobile phones online, and purchase of non-essential goods on e-commerce platforms.
We as customers have to be conscious and careful to sidestep numerous types of frauds made possible under a mindless shift to a digital ecosystem without customer-redress procedures, warns Debashis Basu.
Non-banking entities such as fintech firms will have to tap into use cases beyond peer-to-peer (P2P) and peer-to-merchant (P2M) transactions to scale up the presence of the retail version of the central bank digital currency (CBDC), which is also known as the e, said industry players. These use cases will enable programmable transactions across domains, including the government's direct benefit transfer (DBT) schemes, with subsidies restricted to specific purposes such as food coupons, hospital bills, fertilisers, pesticides, and cross-border remittances.
The era where nations thrived through rigid alignments is giving way to an age where the connective State defines power. For India, that era has arrived, points out Dr Nishakant Ojha.
'The larger and more opaque this shadow economy becomes, especially online, the greater the risk to India's national security.'
