Unified Payments System

Economic Survey calls for identifying regulatory gaps in fintech sector

Sector move towards data-based lending instead of 'judgement-based lending', it says

India and Ghana agree to operationalise UPI link within six months

India and Ghana also discussed the potential of a Memorandum of Understanding (MoU) on digital transformation solutions and a local currency settlement system

Support to regulations difference between us and tech firms: Sameer Nigam

Nigam said that being an early mover in the adoption of the United Payments Interface also played in their favour

Delhi-Meerut RRTS: PM Modi to inaugurate first RapidX project on October 20

The priority section of RRTS or RapidX will open between Duhai and Sahibabad, covering a total of 17 km and will include five stations, namely Sahibabad, Ghaziabad, Guldhar, Duhai, and Duhai Depot

Digital India on display: G20 guests will experience UPI, ONDC, Digilocker

G20 India app has been developed to provide information about the event calendar, give a virtual tour of the summit venue

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

Customers, merchants can use UPI Autopay facility for recurring payments

UPI transactions hit an all-time high of 1.34 billion in June, with transactions of over Rs 2.61 trillion clocked in June alone

Where can you bank for your buck?

From being perceived as economic victims weighed down by bad loans, the finance sector has emerged as the villain in 2019

UPI goes live with 21 banks

SBI to log on a month later

Unified payments system to make mobile wallets redundant:Report

The ongoing push by the Reserve Bank to revolutionise banking through the Unified Payments Interface (UPI) will leave mobile wallets redundant, as mobile banking has jumped over threefold in February from the year-ago period, according to a report. The report, by city-based Centrum Broking, stated that mobile wallet services like SBI's Buddy, ICICI Bank's Pockets, HDFC Bank's Chillr and standalone operator Paytm will be redundant with the massive adoption of the UPI. "Mobile banking has taken the country by storm, growing by 212 per cent growth in value terms in February 2016 over the same period in 2015 and by 131 per cent in volume. "If the UPI adoption continues mobile wallets like SBI's Buddy, ICICI Bank's Pockets, HDFC Bank's Chillr and Paytm will be redundant," a Centrum Broking said in a report titled- 'Banking Transactions - Technological Disruption'. The report attributed the RBI push to adopt UPI as an effort to lower the cash economy. Quoting RBI data, the report said ..

Unified payments system to make mobile wallets redundant: Report

Document says mobile wallet services, such as Paytm, SBI's Buddy, ICICI Bank's Pockets and HDFC Bank's Chillr, will be hit