Digital Transactions

The Reserve Bank on Wednesday said in case of complaints of fraudulent electronic banking transactions via a credit card, a bank should provide shadow reversal or provisional credit of the disputed amount within 5 days from the date of customer notification. The RBI has issued revised framework on limiting customer liability in digital transactions. A bank should design its systems and procedures to make customers feel safe about carrying out electronic banking transaction (EBT) and it should put in place appropriate systems and procedures to ensure safety and security of EBTs carried out by customers, the amended norms said. "A bank shall mandatorily send instant SMS alerts to its customers for all EBTs of value more than Rs 500. For EBTs of value up to Rs 500, a bank may decide to send instant SMS as per its internal policy but without any charge to the customer," the RBI said. These norms will come into effect from January 1, 2027. Also, the bank's communication systems, deploy

India is reportedly in talks to link UPI with Alipay+, a global payments platform operated by Ant International. The move could allow Indian users to make cross-border payments more easily

A moderation in UPI growth is worrying industry players, who warn that low incentives and lack of monetisation could slow expansion of India's digital payments ecosystem

The survey added that complementary investments in digital capabilities and institutional capacities should be a priority to expand gains from digital payments

To expand UPI globally, the government and NPCI must create stronger merchant use cases and ensure faster settlement cycles, especially for small overseas businesses, Pay10 founder said

Hike in interchange fees may lead to more deployments in bank as well as white label ATMs

This new switch being developed by NPCI subsidiary NPCI Bharat BillPay Limited (NBBL) will not leverage any existing payments system tech but will focus on creating a new system altogether

The company recorded growth across categories such as apparel, bookstores, cafes and restaurants, and jewellery, among others, between April 2024 and March 2025

A surge in UPI transactions and year-end bank closures led to a system outage, causing transaction failures, which the NPCI attributed to high volumes and financial year-end settlements at banks

The redistribution of assets will be made in the form of tokens, the company said, conditional to its users voting in affirmative to its scheme

The NPCI subsidiary, which will follow the model similar to TPAPs, is conducting pilots with eight companies

BharatPe Shield covers risks such as computer fraud, phishg attacks, and unauthorised transactions caused by phone loss

Similar to other food aggregator applications such as Zomato and Swiggy, customers using the feature would be able to track their orders on a real-time basis

Shares of major insurance companies like Star Health, ICICI Lombard General Insurance, and Go Digit General Insurance traded in the red due to concerns over insurance premium GST rates

UPI, credit cards, QR codes adoption increasing but debit cards may be losing their sheen

The charges may have to be paid by either the seller, or the buyer, or both

The company has used the brand for promoting, marketing, advertising its products and services under the trademark and has earned goodwill, especially in the financial sector

Euronet processed around 19 million consumer bill payments in March, marking a significant increase from 4.6 million in January, driven by the agreement with Paytm

Public sector Indian Bank has set a target to cross Rs 1 lakh crore business transactions through digital channels, a top official said on Tuesday. The city-headquartered bank had made Rs 81,000 crore transactions through digital medium last financial year, Managing Director and CEO Shanti Lal Jain said here. "As far as digital transactions are concerned, it grew by 4 per cent to 89 per cent overall in FY23-24. Last financial year (FY23) the digital transactions made was 85 per cent." he told reporters. Indian Bank on Monday reported a 55 per cent jump in its net profit to Rs 2,247 crore for the January-March 2024 quarter as compared to a net profit of Rs 1,447 crore made last year. Responding to a query, Jain said, "we will try to cross Rs 1 lakh crore. We have reached Rs 81,000 crore and we will try to cross at least Rs 1 lakh crore (of business through digital transactions). Our internal targets are very high." On whether the customers visiting branches would reduce with increa

Sebi will be considering punitive measures once the ongoing investigation reaches its conclusion. The regulator has issued summons to key personnel and independent directors of the firm