Page 7 - Unified Payments Interface

More nations interested in using UPI: RBI deputy governor T Rabi Sankar

Speaking about India's central bank digital currency (CBDC, also known as e-rupee), Sankar said the RBI was looking to expand the use cases for wholesale CBDC

RBI to launch pilot project for QR-based coin vending machines in 12 cities

These vending machines will dispense coins against a debit to the customer's account. The process will use Unified Payments Interface (UPI) instead of physical tendering of notes

UPI processes record 7.82 bn transactions in December, ends 2022 on a high

In the calendar year 2022, UPI processed over 74 billion transactions, worth Rs 125.94 trillion, NPCI data showed

RBI to streamline charges for a safer, more affordable payments system

The central bank had released a discussion paper in August that outlined existing rules for charges, while presenting other options through which these could be levied

UPI transactions see 650% rise at semi-urban, rural stores: Report

The unified payments interface (UPI) transactions witnessed a meteoric 650 per cent rise at the semi-urban and rural stores in India this year, a report showed on Tuesday

GSTN in AA network: Operational costs of banks expected to come down

GSTN is expected to go live on AA network in late January or early February, people aware of the development say

UPI volume cap deadline extended by 2 yrs in relief for PhonePe, Google Pay

Players wanted five-year extension on the market cap deadline

CBDC more anonymous than traditional e-transactions: IDFC First Bank CEO

In CBDC, the core banking will have a one-time debit for currency purchase, but all subsequent transactions, which move from wallet to wallet

Future of technology going to be driven by India: UAE's AI minister

Though technology is driven from places such as Bengaluru, Al Olama said it is coming from the rest of the world as well

FM Sitharaman offers open source network India Stack to other countries

Separately on Thursday, at the G-20 meeting, Sitharaman called on her counterparts to work together from the current geopolitical risks from worsening

Can India's UPI system go global?

The National Payments Corporation of India's international unit has signed a string of deals over the past two years with foreign companies and central banks. Can the UPI become a global service?

Inclusive digitisation: G20 nations need to adopt inter-operable platforms

G-20 member nations must discuss all these issues irrespective of the conflict and arrive at certain principles to take the world forward

NPCI's plan to acquire a stake in ONDC faces RBI hurdle, says report

Banking regulator flags conflict of interest concern

UPI transactions touch a record Rs 11.17 trillion in September, shows data

On a year-on-year (YoY) basis, volume of transactions was up 85.55 per cent and value of transactions was up 70.61 per cent during the same period.

Dilip Asbe reappointed MD & CEO of NPCI for five years at firm's AGM

Asbe took over as MD&CEO of NPCI in Jan 2018. Prior to that, he was the firm's COO for close to 5 years

The big plastic bonanza: Credit cards business is booming like never before

Defying the after-effects of pandemic-related pay cuts and job losses, the credit cards business is booming like never before

Big Tech in financial system poses concentration risk: Shaktikanta Das

'Unbridled mushrooming of digital lending apps is a material concern'

ONDC and UPI together will reorder India's supply chain: Nandan Nilekani

Speaking at the Global Fintech Fest 2022, he said the supply chain will become far more efficient and will help reach products and services to everyone much more easily

Other nations showing interest in India's payment ecosystem: FM Sitharaman

India leading the way in building an inclusive financial world, she says

Data monetisation should have consumer consent: RBI deputy governor

Last month, the government withdrew the Personal Data Protection Bill from the Lok Sabha and IT Minister had said the Centre was hopeful of getting a new legislation passed by the next Budget Session