Parliament was informed that UPI has onboarded 55.49 crore users by June 2026, with transactions reaching 24,162 crore in volume and Rs 314 lakh crore in value in FY 2025-26. The platform, operated by NPCI, is expanding internationally through NIPL, facilitating cross-border payments and assisting other nations in building similar systems. Significant efforts are also underway by the Government, RBI, and NPCI to enhance the security and transparency of UPI transactions, including risk-based limits, security frameworks, and public awareness campaigns against cyber-crime.
Fintech platform Decentro has received final approval for a Payment Service Provider (PSP) licence from the IFSCA at GIFT City, enhancing its cross-border payment capabilities.
One 97 Communications, operating as Paytm, announced that its subsidiary, Paytm Europe Payments, has secured a payment institution licence from Luxembourg's financial regulator, CSSF, effective July 2, 2026. This licence permits services like execution of payment transactions, credit transfers, and acquiring payment transactions, marking a significant step in Paytm's European expansion strategy, supported by a recent 9 million euro investment from Paytm Cloud Technologies Limited.
The Azadpur Agricultural Produce Marketing Committee (APMC) has introduced an online payment system for gate pass fees, aiming to reduce congestion, enhance transparency, and streamline operations at Asia's largest wholesale fruits and vegetables market. This digital initiative is expected to benefit traders, drivers, and other stakeholders by speeding up vehicle entry and minimising cash transactions.
The Azadpur Agricultural Produce Marketing Committee (APMC) has introduced an online payment system for gate pass fees, aiming to reduce congestion, enhance transparency, and streamline operations at Asia's largest wholesale fruits and vegetables market. This digital initiative is expected to benefit traders, drivers, and other stakeholders by speeding up vehicle entry and minimising cash transactions.
The Reserve Bank of India (RBI) has proposed several measures to develop a more conducive framework for the long-term growth of Prepaid Payment Instruments (PPIs), including enhanced transaction security and clearer rules on refunds and grievance redressal.
Zelle, a major US peer-to-peer payment service, is set to launch in India by the end of this year, marking its first international expansion. The move aims to tap into India's large remittance market, offering a service similar to UPI but integrated with bank apps. Zelle also introduced ZelleUSD, a stablecoin for future global payment capabilities.
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.
Deferred payment plans may come with a cost, which may not be immediately visible.
HDFC Bank's shares experienced a dip on Wednesday after a newspaper report alleged that the bank made illegal payments to the Maharashtra State Road Development Corporation to secure large deposits, raising concerns about corporate governance.
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.
India's Code on Wages mandates strict payout deadlines, two-day full and final settlements, universal wage coverage and capped deductions to safeguard employees and enhance payroll transparency nationwide.
The BCCI on Monday invited bids for the title sponsorship rights for its domestic and international home events, with the current agreement with IDFC FIRST Bank nearing the end of its tenure.
Authorised push payment frauds have emerged as a growing challenge globally as scammers increasingly rely on social engineering techniques to persuade users to transfer money voluntarily, making recovery more difficult even when transactions are authenticated.
A police inspector with the Telangana Cyber Security Bureau has been arrested by the Anti-Corruption Bureau (ACB) for allegedly demanding and accepting a bribe to protect the family and friends of an individual booked in a cyber fraud case.
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.
Taxpayers must provide more details to support deduction and exemption claims.
Following alleged thefts at the Ram temple in Ayodhya and other incidents, prominent temples across India, including Baba Balak Nath Temple in Himachal Pradesh and Ambaji temple in Gujarat, are implementing stringent new rules for counting offerings. These measures include mandatory pocketless clothing for staff, extensive CCTV surveillance, metal detector frisking, and promoting digital payments to ensure transparency, honesty, and accountability in donation management.
Two-factor authentication for all digital transactions, including UPI, is now mandatory in India, as per RBI guidelines, to enhance security and curb fraud.
The most financially successful borrowers will not necessarily be those who have the easiest access to credit. They will be the ones who understand how to manage it wisely
Avoid builders with very large commitments.
BJP sources said the government would introduce a fresh Bill on the issue and has reached out to parties that opposed the earlier legislation.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries
India has denied making any payments to Iran to secure safe passage for its vessels through the Strait of Hormuz, following reports that Indian vessels were fired upon in the region.
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.
...and 3 lakh for harassment.
Prime Minister Narendra Modi and Indonesian President Prabowo Subianto have significantly advanced the India-Indonesia Comprehensive Strategic Partnership, securing crucial agreements on defence, critical minerals, and maritime security, including BrahMos missile supply and Sabang port development.
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.
The Indian government has informed the Lok Sabha that the income-tax return (ITR) e-filing portal is functioning in a 'largely stable and efficient manner' despite a significant increase in traffic during the peak filing season. However, it acknowledged transient technical issues and disclosed that contractual penalties have been imposed on Infosys for project delays and service-level agreement failures.
If we really want to curb the further depreciation of the rupee and make the rupee appreciate, we want to come out of the mindset that the exchange rate is merely a number, bring policy corrections to help reduce the outflow of foreign exchange by imposing suitable tariffs to discourage imports and bring self reliance, discipline FPIs, and correcting rules governing royalty outflows, suggests Dr Ashwani Mahajan, National Co-Convenor, Swadeshi Jagaran Manch.
'If there are different laws governing the same subject, it can increase the compliance burden on platforms. The process would be easier and more transparent if there were a singular national-level law.'
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.
Understanding a product and assessing its suitability improve the chances of staying invested. Use life insurance mainly to cover risk, not to seek returns.
Inflows into foreign currency non-resident (bank), or FCNR (B), deposits have significantly underperformed market expectations, leading to a more than 1 per cent depreciation of the rupee against the dollar this week. Analysts point to fading RBI support measures, tepid interest due to rising global bond yields, and narrowing interest rate spreads compared to 2013 as key challenges.
L&T Finance reported a robust Q1FY27 with net profit growing 29% year-on-year to 900 crore, driven by strong asset growth and strategic initiatives including accelerating cross-selling, improving productivity, and fostering a technology-first, AI-led culture, alongside significant expansion in gold loans.
'Dark patterns exploit human psychology, cognitive biases, urgency, confusion, or lack of attention to increase revenue for digital platforms at the expense of consumer choice and transparency.'
Sebi cautions investors against fake notices demanding Securities Transaction Tax (STT) payments and warns about fraudsters posing as account handlers promising risk-free profits.
Following regulatory action against Paytm Payments Bank Ltd (PPBL), Paytm strategically separated its core operations, a move praised by analysts for preserving business continuity and governance. This separation has enabled Paytm to sustain growth and improve profitability.
India has refuted claims of payment issues hindering crude oil imports from Iran, clarifying that refiners have the flexibility to source oil from various global suppliers. The Ministry of Petroleum and Natural Gas addressed reports of a tanker rerouting to China, emphasising standard industry practices and secured oil requirements.
'Periods of heightened volatility, driven by global events such as tariffs and geopolitical tensions over the past year-and-a-half, can make some investors pause or discontinue their investments.'
