Two new changes have come to UPI starting November 1. The National Payments Corporation of India (NPCI) has introduced an auto top-up feature and increased transaction limits for UPI Lite, effective November 1, 2024, to streamline small-value digital payments. New transaction limit and more Under the new guidelines, users can now make transactions up to…
The National Payments Corporation of India (NPCI) is reportedly taking a firm stance against unauthorised use of virtual IDs generated for Unified Payments Interface (UPI) transactions. According to a report in Economic Times, certain fintech firms have been offering a service that allows businesses to authenticate users using their UPI IDs, a practice that violates…
UPI transaction limit set to change: The National Payments Corporation of India (NPCI) has made a significant announcement that will benefit millions of taxpayers in the country. Starting September 16, 2024, individuals will be able to use the Unified Payments Interface (UPI) to pay taxes up to Rs 5 lakh per transaction.This follows the NPCI…
NEW DELHI: External affairs minister S Jaishankar on Sunday announced that India and Maldives have signed an agreement to introduce Unified Payments Interface (UPI) in the archipelago nation.This comes as Jaishankar is in three-day official visit to the Maldives.Taking to X Jaishankar said, “Witnessed signing of MoU between (the) National Payments Corporation of India and…
The National Payments Corporation of India (NPCI) is reportedly discussing partnerships with several startups to introduce biometric authentication for Unified Payments Interface (UPI) transactions.According to sources familiar with the matter, as reported by MoneyControl, the proposed system would allow users to authenticate UPI payments using fingerprints on Android devices and face ID on iPhones, replacing…
The Adani Group, led by billionaire Gautam Adani, is looking to diversify its empire by venturing into the fast-growing e-commerce and digital payments sectors in India, according to a report by the Financial Times (FT). The move comes as the conglomerate seeks to build a digital business to compete with rivals such as Tata, Google,…
Mumbai: Payments for minors and senior citizen-friendly features were some of the proposals discussed during a meeting convened by RBI with UPI players.RBI governor Shaktikanta Das on Wednesday convened a meeting of banks, leading third-party UPI apps, and NPCI. Banks said they have beefed up their systems to manage transactions, which have more than tripled…
The amount of cash circulating in the economy has seen a significant increase since the financial year 2016-17, which marked the demonetisation and the introduction of UPI. Despite the phasing out of Rs 2000 notes, the currency in circulation has risen from Rs 13.35 lakh crore in March 2017 to Rs 35.15 lakh crore by…
New UPI features: RBI governor Shaktikanta Das on Friday announced two new features or measures for Unified Payments Interface (UPI) users, with an aim to enhance ease of transactions and cash deposits. The new announcements were made by Shaktikanta Das as a part of RBI’s monetary policy statement.The two new UPI features allow users to…
Now you can deposit cash at Cash Deposit machines using your UPI! RBI governor Shaktikanta Das made this announcement as a part of the RBI Monetary Policy Committee (MPC)’s policy statement today. Source link
