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.
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).
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.
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 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 new report indicates that UPI has become the dominant payment method for lenders, accounting for over 90% of transactions. The report also highlights trends in investment amounts, diversification strategies, and geographic participation in peer-to-peer lending.
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.
Police in Himachal Pradesh have arrested five individuals for allegedly assaulting a man and forcing him to transfer money via UPI.
The LDF has filed a complaint with the Election Commission alleging that UDF candidate Reji Cheriyan engaged in cash-for-vote practices during the Kuttanad Assembly election campaign.
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.
LIC offices will remain open during normal working hours on Tuesday for customer convenience, following an advisory from Irdai. CoinDCX commits to invest in cybersecurity infrastructure, and PayNearby introduces UPI QR-based cash withdrawals.
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).
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.
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.
Delhi Police have arrested six individuals involved in a transnational cyber fraud syndicate that operated fake loan applications and siphoned money through mule bank accounts.
World Bank South Asia Chief Economist Franziska Ohnsorge advocates for the removal of obstacles hindering the adoption of artificial intelligence to foster business growth and job creation, particularly in South Asia.
Police in Jajpur, Odisha, have arrested five individuals, including a woman and her lover, in connection with the murder of her husband. The investigation revealed a complex web of relationships, leading to a planned execution.
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.
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.
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.
Delhi Police have arrested five individuals for allegedly abducting and robbing a man after luring him through a dating application in the Kalkaji area. The victim was assaulted, forced to transfer money, and later abandoned.
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.
Four individuals, including former and current senior students, have been arrested in Bengaluru for allegedly kidnapping a 19-year-old student and demanding a ransom for his release. Police swiftly rescued the victim and apprehended the suspects.
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.
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.
'When you think of cross-border payments, the first things that come to mind are risk, compliance, taxation, speed, and cost.'
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.
Customers will qualify for compensation even if they mistakenly share the OTP.
UPI crossed 20 billion monthly transactions for the first time in August 2025, with a transaction value of Rs 24.85 trillion.
Brokerage firm Jefferies maintains a 'Buy' rating for Paytm, citing its dominant merchant payments platform and projected revenue growth.
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.
Samsung has unveiled a pair of fresh Galaxy handsets for the Indian market, expanding its A-range with the A57 5G alongside the A37 5G.
Homegrown e-commerce giant Flipkart is experiencing a significant trend of senior leaders rejoining the company, driven by its people-first culture, opportunities for growth with ownership, and the chance to solve problems at an India scale.
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.
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.
'There is a debit execution failure which is because there is not enough money in the user's bank account.'
Reserve Bank Governor Sanjay Malhotra on Wednesday said there is no proposal to levy any charge on UPI transactions.
'We take steps to filter this data to protect people's privacy and to help prevent identifying information from being reviewed.'
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