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.
Public sector banks in India are increasing their IT spending to bolster cybersecurity measures in response to concerns about Anthropic's Claude Mythos AI tool and its potential to exploit vulnerabilities in financial systems.
Punjab Police has dismantled the financial infrastructure of drug-trafficking networks, freezing assets worth Rs 300 crore linked to alleged drug smugglers.
The Employees' Provident Fund Organisation (EPFO) will soon allow subscribers to withdraw their EPF and transfer it directly to their bank accounts through the UPI payment gateway. Testing of the facility has been completed, according to Labour Minister Mansukh Mandaviya.
The proposed facility seeks to simplify and speed up PF withdrawals by allowing Employees' Provident Fund Organisation (EPFO) subscribers to access up to 75 per cent of their balance through ATMs and UPI-based systems, while retaining at least 25 per cent in their accounts.
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.
The much-delayed graded payments system for Indian cricketers is unlikely to be finalised before the Asia Cup, BCCI sources said.
'Exploration should be made easier and companies should be given operational flexibility.'
FinMin working to ensure all govt transactions are done electronically, says official
Bihar Police arrested 141 people in a state-wide crackdown on mule bank account networks allegedly used for cyber fraud. The operation, 'Cyber Prahar 2.0', led to the registration of 86 FIRs and uncovered collusion by bank employees.
Fintech company Pine Labs has acquired Shopflo, an online checkout optimisation platform, for Rs 88 crore in an all-cash deal aimed at providing a unified commerce platform for merchants.
This would imply a 29 per cent year-on-year rise, significantly lower than growth rates seen in recent years.
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.
'When I look at India's relative valuations, these are by far the lowest I have seen in my 35-year career.' 'The relative 12-month trailing performance is among the weakest I have seen, and foreign investor positioning is at a 16-17 year low.'
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.
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.
Reliance Industries Ltd reported a 12.5 per cent fall in its March quarter net profit, primarily impacted by the global energy crisis affecting its oil and chemicals business, while its consumer-facing Jio Platforms unit saw a 13 per cent increase in profit after tax.
A section of industry may need to begin compliance immediately, even as most states are yet to notify their rules.
Micro, small and medium enterprises (MSMEs) have expressed significant concerns regarding the labour ministry's recent clarifications on labour codes, citing ambiguity in wage calculation and implementation, which they argue creates interpretational and operational challenges for employers.
Haryana Chief Minister Nayab Singh Saini reports smooth wheat procurement and record arrivals in the state's 'mandis', dismissing opposition claims of farmer hardship due to new measures.
Fintech firm One97 Communications on Thursday said its subsidiary Paytm Payments Services Limited (PPSL), has received authorisation from the Reserve Bank of India to operate as a Payment Aggregator for physical (offline) payments and cross-border transactions.
The Securities and Exchange Board of India (Sebi) is working on a new payment system for the secondary market, which could prevent brokers from accessing their client funds. It will be on the lines of the Application Supported by Blocked Amount (ASBA) process used for subscribing to initial public offerings (IPOs), where funds move out of an investor's bank account only after the trade is confirmed. Sebi chairperson Madhabi Puri Buch on Wednesday said that despite the challenges, the new system would be ready in a few months.
Delhi Police have dismantled a cyber fraud racket involving malicious mobile applications, arresting two individuals, including the alleged mastermind from Uttar Pradesh. The accused developed and supplied 'FUD' APK files to cyber fraudsters across the country, enabling them to gain remote access to victims' phones and siphon off money.
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.
A software engineer earning a high salary allegedly abandoned his career to run a fake online trading racket, duping investors of nearly Rs 100 crore.
Delhi Police have arrested two men from Goa, claiming to have busted an interstate cyber-fraud-and-cash-conversion racket. Transactions worth nearly Rs 40 lakh routed through the network have been uncovered.
An analysis of the disparities in India's sporting culture, highlighting the challenges faced by non-cricket athletes and the systemic changes needed for India to become a true sporting superpower.
The Employees' Provident Fund Organisation (EPFO) is set to introduce UPI-linked withdrawals by the end of May, as it finalises testing for its Centralised IT Enabled System (CITES) 2.0 overhaul, aiming to streamline PF balance transfers and withdrawals.
Users experienced difficulties with UPI payments due to technical issues in some banks' systems. NPCI stated that its systems are operational and it is working with banks to resolve the problems.
The CBI arrested a court reader in Tis Hazari court for allegedly demanding a bribe from a lawyer to facilitate the bail of her client.
'Even last year, when India bought gold, the physical quantity was much less than the previous years.'
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).
If TVK MLAs and ministers are perceived as clean, or demonstrably cleaner than their predecessors, the credibility dividend will be enormous. The voter will feel rewarded, points out Ramesh Menon.
French President Emmanuel Macron announced that India and France will collaborate to develop an artificial intelligence framework that combines innovation with responsibility and technology with humanity, addressing the need for inclusive digital tools amid rising geopolitical tensions.
'We have seen that stablecoins lack the basic attributes of money, their advantages are neither unique nor unambiguous and their risks are all too real.'
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.
India is the only significant power that all parties trust, or at least do not distrust, notes former defence secretary Ajay Kumar.
Mastercard and Visa are introducing passkeys that will allow users to authenticate card payments with face scans or fingerprints, eliminating the need for one-time passwords (OTPs).
Following through announcements with enforcement of measures is key, as a run through recent Indian economic history shows, points out A K Bhattacharya.
The Indian government has announced the replacement of the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) with the Viksit Bharat Guarantee for Rozgar and Ajeevika Mission (Gramin), or VB-G RAM G Act, 2025, effective July 1. The new scheme aims to expand guaranteed wage employment and link it more closely with infrastructure development and climate resilience, but faces concerns from opposition parties and labour rights activists.
