The financial industry supported this move and said it is a progressive step to boost the adoption of interoperable cash deposits Launched in 2016, India’s UPI payment has become an essential part of every individual, especially for retail digital payments in India, and its adoption has noticed rapid growth. Keeping its huge progress in mind, […]
The share of UPI in digital payments in India has reached close to 80 per cent in 2023, informed Reserve Bank of India (RBI) Shaktikanta Das on Monday, as he outlined the growth of the payments ecosystem in the country. Addressing the Digital Payments Awareness Week organised by the Reserve Bank of India, the RBI […]
The Unified Payments Interface (UPI) has shattered records by processing over 100 billion transactions, as revealed by data from the National Payments Corporation of India (NPCI). Operating alongside other payment processing infrastructure, UPI witnessed 54 per cent year-on-year (YoY) growth in transaction volume and 42 per cent surge in transaction value for December 2023. The […]
The Ministry of Housing and Urban Affairs (MoHUA) in a statement has said that the central government has covered a total of 50 lakh street vendors under PM Street Vendor’s AtmaNirbharNidhi (PM SVANidhi) scheme. Started on 1 June 2020, PM SVANidhi is a micro-credit scheme for urban street vendors that aims to provide collateral-free working […]
The Unified Payments Interface (UPI) has revolutionised India’s digital payment ecosystem and played a pivotal role in driving financial inclusion by bringing millions of unbanked individuals into the formal financial system, said RBI Governor Shaktikanta Das here on Monday. The RBI Governor was delivering the keynote address at the Grand Finale of the G20 TechSprint […]
