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.
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.
This would imply a 29 per cent year-on-year rise, significantly lower than growth rates seen in recent years.
Police in Himachal Pradesh have arrested five individuals for allegedly assaulting a man and forcing him to transfer money via UPI.
As India's biggest Unified Payments Interface (UPI) app PhonePe prepares to list, the updated draft red herring prospectus (DRHP) shows the impact of regulations on the business, and concentration of payments-linked revenue even as UPI lacks MDR (merchant discount rate).
Delhi LG Taranjit Singh Sandhu addressed the Global Confluence 2026, emphasising the importance of maintaining a human element at the heart of digital nation-building. He highlighted India's digital transformation and the role of technology in improving lives, while urging a focus on inclusive development and national security.
Kerala Police have issued a warning about a new cyber fraud where scammers are using the image of Chief Minister Pinarayi Vijayan in fake social media advertisements to trick people into making online payments through PhonePe.
The new UPI IDs will follow formats such as abc.bkr@validhdfc or xyz.mf@validhdfc. For easier recognition, they will also carry a white 'thumbs up' icon inside a green triangle.
'When you think of cross-border payments, the first things that come to mind are risk, compliance, taxation, speed, and cost.'
Several executives argue that UPI has the potential to grow tenfold, but warn that the absence of a monetisation model risks stagnating the real-time payments system, which has been recording all-time-high transaction volumes every year.
UPI crossed 20 billion monthly transactions for the first time in August 2025, with a transaction value of Rs 24.85 trillion.
'We take steps to filter this data to protect people's privacy and to help prevent identifying information from being reviewed.'
The National Health Authority (NHA) is promoting the National Health Claims Exchange (NHCX) to standardise and simplify health insurance claims processing in India, aiming for a seamless and reliable digital infrastructure similar to UPI.
A BofA Global Research report indicates that Paytm is leading in monetisation compared to its competitors due to its diversified mix of merchant lending and financial services, which enhances profitability and strengthens its position in the Indian fintech market.
Nasscom President Rajesh Nambiar highlights India's growing importance as a technology partner due to geopolitical uncertainties and the need for resilient supply chains.
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.
Reserve Bank Governor Sanjay Malhotra on Wednesday said there is no proposal to levy any charge on UPI transactions.
'There is a debit execution failure which is because there is not enough money in the user's bank account.'
PhonePe has launched the 'RuPay On-The-Go' Card, a National Common Mobility Card (NCMC) aimed at digitising transit payments across India. The card enables quick, tap-and-pay transactions on NCMC-enabled services like metros, buses, and trains, even without internet connectivity.
A retired Army colonel was allegedly attacked with beer bottles by six youths in Gurugram after a minor car accident. Five suspects have been arrested after the victim reported the incident and alleged police apathy on social media.
Sebi Chairman Tuhin Kanta Pandey announced intensified surveillance and technology-driven enforcement to combat pre-investment scams targeting retail investors, who are increasingly being lured by fake trading apps and promises of high returns.
Fino Payments Bank asserts its compliance with GST regulations following the arrest of its MD and CEO, Rishi Gupta, by the Directorate General of GST Intelligence (DGGI). The bank clarifies that the investigation pertains to program managers associated with multiple banks and not the bank's own GST compliance.
Indian car buyers care more about affordability than technology, keeping ICE vehicles dominant while hybrids emerge as the preferred transition option and EVs struggle in the mass market.
'There is a challenge in repositioning yourself, maybe reinventing yourself.'
Banking operations at public sector banks across the country were impacted on Tuesday as the United Forum of Bank Unions (UFBU) went on nationwide strike demanding the immediate implementation of a five-day work week.
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.
India and Israel have elevated their relationship to a special strategic partnership, focusing on enhanced cooperation in trade, technology, and defense, while also addressing regional peace initiatives.
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.
'This will bring in a lot of net new users to UPI.'
An hour-long disruption could affect around 40 million UPI transactions.
UPI has catapulted India into the forefront on the global digital payments landscape. Working hand in hand, the AePS payments system is making life easy for rural folks, notes Tamal Bandyopadhyay.
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.
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.
A petition has been filed in court alleging irregularities in the handling of belongings seized from former IPS officer Amitabh Thakur, who is currently jailed in Uttar Pradesh.
'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.
Rediff explains why the system, not the Budget, is the problem.
UPI topped Rs 24 trillion in value of transactions and 19 billion in volume for the first time after becoming operational in April 2016.
Google Pay, PhonePe, and Paytm may deliberately delay transactions, issue fraud alerts, and require an extra layer of user confirmation before processing any transactions that are likely to be classified as fraudulent.
'Just like oral hygiene, cyber hygiene must become a daily habit,' says Beena Vaheed, executive director, Bank of Baroda. 'It is not enough to rely only on banks, companies, or the government. Each of us must play our part.'
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