Two-factor authentication for all digital transactions, including UPI, is now mandatory in India, as per RBI guidelines, to enhance security and curb fraud.
Airpay Payment Services has partnered with Maharashtra State Co-operative Bank (MSCB) to enable UPI-based digital payments across the lender's network in Maharashtra, aiming to accelerate financial inclusion in rural areas.
The Reserve Bank of India (RBI) is developing digital public infrastructure and payments intelligence platforms using artificial intelligence and application programming interfaces to improve customer experience and strengthen the payments ecosystem.
The Reserve Bank of India (RBI) has proposed new measures to combat financial fraud in digital payments, including lagged credit for authorised push payments and a 'kill switch' for users to disable all digital transactions.
It will enable real-time intel sharing among banks and other financial sector participants to strengthen customer protection against digital fraud.
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.
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.
From April 1, 2026, the Reserve Bank of India's new authentication directions modernise how every digital payment you make must be verified -- and place the burden of security squarely on your bank, not on you.
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.
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.
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 Reserve Bank of India (RBI) has introduced its 'Payments Vision 2028' document, outlining initiatives to enhance digital payment security, introduce electronic cheques, and expand regulatory oversight to include e-commerce entities.
Jio Payments Bank introduces UPI-based cash withdrawals at business correspondent touchpoints, enhancing financial inclusion and simplifying access to cash for rural and semi-urban customers.
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.
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.
About 85 per cent of the digital payment transactions take place through UPI in India, and the country can be a case study in inclusive, secure, and scalable Digital Public Platforms (DPPs), Reserve Bank Governor Sanjay Malhotra has said. He was speaking at a "High-Level Dialogue on Forging Economic Resilience through Digital Public Platforms" organised by RBI on the sidelines of the Annual Meetings of the World Bank and International Monetary Fund in Washington, DC on Tuesday.
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.
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.
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 Indian IPO market is experiencing a significant surge in preliminary filings, with 38 companies submitting papers to SEBI in March 2026, driven by a combination of improved issuer confidence, strategic regulatory compliance, and private equity investors seeking exits amidst volatile market conditions.
Customers will qualify for compensation even if they mistakenly share the OTP.
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 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.
Cooperation Minister Amit Shah announces Bharat Taxi, a cooperative-led ride-hailing platform, has reached 2.13 million users and 231,000 drivers. The platform operates on a zero-commission model, prioritising driver welfare and expansion into Tier 2 and 3 cities.
This would imply a 29 per cent year-on-year rise, significantly lower than growth rates seen in recent years.
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.
OTP scams accounted for over one-fourth of all cyber frauds.
Police in Himachal Pradesh have arrested five individuals for allegedly assaulting a man and forcing him to transfer money via UPI.
Only bona fide victims would be compensated by banks within five days of receiving the complaint.
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.
Digital payments across the country registered an 11.11 per cent year-on-year rise as on September 2024, according to RBI's index that measures the adoption of online transactions. RBI's Digital Payments Index (RBI-DPI) for September 2024 stands at 465.33 as against 445.5 for March 2024, the Reserve Bank said in a statement on Wednesday.
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.
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.
Moving beyond digital payments, the National Payments Corporation of India (NPCI), the operator of Unified Payments Interface, is planning to add more muscle to the country's digital infrastructure by setting up a fourth subsidiary, NPCI Tech Solutions Ltd (NTSL).
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 Union Budget on Sunday proposed a tax holiday till 2047 for foreign companies that provide cloud services to customers globally using data centres located in India, signalling the government's push to make the country a major hub for AI and digital infrastructure.
The Union Budget on Sunday proposed a tax holiday till 2047 for foreign companies that provide cloud services to customers globally using data centres located in India, signalling the government's push to make the country a major hub for AI and digital infrastructure.
'India is advanced in that everybody has an ID. But behind that (digital) ID (Aadhaar), you don't have a place where you can share information between each other,' says Tim Berners-Lee.
Public sector banks have written off loans worth Rs 6.15 lakh crore in the last five and a half years, Parliament was informed on Monday.
The Reserve Bank of India (RBI) on Wednesday issued a draft framework for alternative authentication mechanism for digital payments, wherein it has mandated that all digital payment transactions would have to be authenticated with an additional factor of authentication (AFA), except small value contactless card payments for up to Rs 5,000 at point of sale terminals, e-mandates for recurring transactions, and small value digital payments through offline mode, among others. Additionally, it has said that all digital payment transactions, other than card present transactions, have to ensure that one of the factors of authentication is dynamically created, i.e., the factor is generated after initiation of payment; is specific to the transaction; and cannot be reused.
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