The Lok Sabha has passed a Bill to amend the Payment and Settlement Systems Act, 2007, authorising the government to permit banks and service providers to levy charges on UPI and other electronic payment modes. This move aims to create a sustainable revenue model for the digital payments ecosystem, shifting from the current exemption of UPI transactions from such charges.
A think tank, GTRI, has urged India to resist US pressure regarding its UPI policies, advocating for competition, policy autonomy, and a sustainable payments ecosystem. This comes as the Lok Sabha passed a bill allowing charges on UPI, and the US has criticised India's digital payment systems, raising concerns about the future of India's digital payment landscape.
A think tank, GTRI, has urged India to resist US pressure regarding its UPI policies, advocating for the defence of competition, policy autonomy, and the long-term sustainability of its payments ecosystem. This comes as the Lok Sabha passed a bill allowing charges on UPI transactions, a move GTRI suggests should not be influenced by foreign trade complaints.
The Indian government has clarified that consumers will not be charged for UPI transactions, and most merchant transactions will also remain free. This comes amidst speculation following an amendment to the Payment and Settlement Systems Act, 2007. Any future merchant discount rate (MDR) would be nominal, threshold-based, and aimed at ensuring UPI's long-term sustainability and infrastructure development.
The Payments Council of India has confirmed that Unified Payments Interface (UPI) services will continue to be free for consumers and small merchants, despite a recent Lok Sabha Bill. This clarification addresses concerns about potential charges, emphasising that while a sustainable financial model for UPI infrastructure is being developed, transaction charges will not be passed on to users or small businesses.
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.
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.
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.
Unified Payments Interface (UPI) transactions moderated slightly in June from a record high in May, reaching Rs 28.9 lakh crore. Despite a month-on-month decrease in volume, the daily average transactions hit a new high, indicating UPI's strong adoption for low-value payments. The platform also demonstrated significant annual growth and expanding international presence.
A delegation of Indian startup founders and leaders visited the UK to explore collaborations in artificial intelligence and technology, aiming to strengthen the India-UK innovation corridor.
Two-factor authentication for all digital transactions, including UPI, is now mandatory in India, as per RBI guidelines, to enhance security and curb fraud.
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.
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.
Credit card adoption is rapidly expanding beyond India's major metropolitan areas into Tier-II and Tier-III cities, driven by increasing incomes, digital awareness, and the integration of RuPay credit cards with UPI, according to a new report by SBI Card.
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.
'There has to be a safe harbour for licensed entities, which have followed all the norms prescribed by the RBI.'
Unified Payments Interface (UPI) has reached a record Rs 314 lakh crore in transaction value in FY26, representing more than a 4,000-fold increase since inception.
The biggest challenge to widespread deployment is no longer AI. It is the financial and commerce infrastructure that was built decades ago for deterministic software and human interactions -- not autonomous AI agents.
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.
Global technology giant Google has announced the selection of 20 Indian AI startups for its 2026 Google for Startups Accelerator programme, marking the 10th anniversary of its accelerator initiatives.
If you do not insulate your retirement corpus from the true cost of modern critical care, you don't have a retirement plan -- you have a fragile strategy waiting for an expensive medical emergency to break it
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
While opening new accounts, banks can check if the name appears in any mule data. In case it does, the bank can conduct enhanced due diligence.
'GenZ today is close to 45 to 50 per cent of the overall shopping journeys in the country. They are also very content-first in terms of entertainment or otherwise, general gratification of content and discovery.'
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.
Credit card transactions in India have surged over 2.6 times between 2021 and 2025, reaching 570 crore volumes and Rs 23.2 lakh crore in value, with private sector banks significantly increasing their market share, according to a recent RBI report.
Credit card transactions in India have surged over 2.6 times between 2021 and 2025, driven by private sector banks, while debit card usage declines due to growing adoption of UPI and digital wallets, according to an RBI report.
Maruti Suzuki India (MSIL) reported a 9.1 per cent year-on-year decline in net profit for the April-June quarter of 2026-27, marking its second consecutive quarterly fall. This dip occurred despite a significant 29.3 per cent jump in sales volume, primarily due to escalating commodity prices, increased energy costs, and logistics disruptions stemming from the West Asia conflict.
In her address to the nation on the eve of the country's 80th Independence Day, the president stressed that just as government and society remain united to ensure national security, everyone must contribute through joint and concerted efforts to safeguard the present and future of students.
UPI transactions in India reached record highs in May, driven by summer travel and the IPL, with transaction value hitting Rs 29.90 lakh crore and volume reaching 23.2 billion.
'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.'
An employee whose financial future is 60-80 per cent dependent on a single company's growth trajectory has no genuine safety net.
State Bank of India Chairman C S Setty has expressed support for a 'pause' in policy rates by the Reserve Bank of India's monetary policy committee, believing it will help stabilise conditions and support economic growth. He also urged investors to look beyond short-term equity market movements and focus on India's structural transformation, driven by reforms and digital infrastructure.
Apple Inc, which had planned to shift only 10 per cent of its global production base from China to India with respect to iPhones at the end of FY26, is currently churning out one out of every four iPhones in the world from India.
The proposed solution is a one-hour delay for digital transactions exceeding Rs 10,000, particularly when the transfer is made to a new or unverified beneficiary. The idea is simple -- give users a window to reconsider, detect fraud or alert their bank before the funds are irretrievably transferred.
Fintech unicorn Razorpay has confidentially filed draft documents with SEBI for an Initial Public Offering, with market sources estimating the issue size between Rs 5,000-6,000 crore. This move comes as a rival firm, PhonePe, has paused its IPO plans.
Dark patterns are no longer just a consumer protection concern, but a broader macroeconomic challenge affecting the long-term sustainability of India's digital commerce ecosystem.
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).
An innovation roadmap, a mechanism to double annual bilateral trade within next five years, and a joint artificial intelligence framework were among 13 outcomes to emerge from wide-ranging talks between Prime Minister Narendra Modi and President Emmanuel Macron on Sunday.
Lending is no longer just about what you've done. It is about how you manage money over time, says Mohit Jain, Co-founder, Finfinity.
