Page 28 - Upi

Inbound travellers from G20 countries can now use UPI, says RBI

Even delegates from G20 countries would be able to avail this facility at various meeting venues

With some help from the predecessor

In assessing Narendra Modi's success with many schemes, Manmohan Singh's fundamental work should not be ignored

Travellers from G20 nations can avail UPI facility at 3 airports: RBI

The RBI on Tuesday said travellers from G-20 countries arriving at Bengaluru, Mumbai and New Delhi international airports can get Prepaid Payment Instruments wallets linked to UPI for making payments to over five crore merchant outlets across India. Earlier this month, the Reserve Bank made an announcement regarding allowing access to UPI to foreign nationals and NRIs visiting India. To start with, the RBI said, the facility is available to travellers from G-20 countries, at select international airports (Bengaluru, Mumbai and New Delhi). Eligible travellers would be issued Prepaid Payment Instruments (PPI) wallets linked to UPI for making payments at merchant outlets. "Delegates from G20 countries can also avail of this facility at various meeting venues," the RBI said. Initially, ICICI Bank, IDFC First Bank and two non-bank PPI issuers, Pine Labs Private Limited and Transcorp International Limited will issue UPI-linked wallets. "Travellers visiting India can now experience the

People in S'pore, India can make faster transfers with UPI-PayNow: PM Lee

Singapore Prime Minister Lee Hsien Loong on Tuesday said the linkage between India's Unified Payments Interface (UPI) and Singapore's PayNow will allow people in the two countries to undertake faster and cost-efficient digital transfers, and exuded hope that this "strong partnership" will continue to spawn innovative technology solutions. Prime Minister Lee and his Indian counterpart Narendra Modi witnessed the launch of the cross-border connectivity of real-time digital payment systems via video conferencing. "I am very happy to join you (Narendra Modi) virtually for the launch of the real-time retail payment systems linkage between Singapore's PayNow and India's UPI (Unified Payments Interface)," Lee said. The launch was attended by Reserve Bank of India (RBI) Governor Shaktikanta Das and Monetary Authority of Singapore (MAS) managing director Ravi Menon. Das and Menon carried out the first transaction of the cross-border system as well. "The PayNow-UPI linkage will offer cheape

HDFC Bank goes live on 'Rupay Credit on UPI' feature for customers

Credit cards can be linked to a UPI identity for secure payment transactions

2023 is for complete rollout of Digital Credit System: Ashwini Vaishnaw

The minister further said that that Mission Bhashini - National Language Translation Mission and Digital Payments have come together to make UPI 123 Pay available in the local language

Travellers to India from G20 nations can use UPI for merchant payments: RBI

UPI transactions touched a record high of 8.03 billion transactions in January, adding up to Rs 12.98 trillion

Fake notes in coin vending machines led to UPI-based alternative: RBI

Getting fake currency notes in coin vending machines led the Reserve Bank to announce the unified payment system-based alternative, Deputy Governor T Rabi Sankar said on Wednesday. Sankar said the RBI had installed coin vending machines at strategic places like vegetable markets where there is a high demand for coins but had to grapple with the challenge of fake notes. The problem then was that the currency that was being fed into these machines was found to be very often fake so that became an issue, he told reporters at the central bank headquarters here. This is where the RBI started to think of the alternatives that can be deployed, Sankar said, adding that a lot of people use cellphones which can scan a QR code which can be linked to the unified payments interface to initiate and process a transaction sans the use of currency notes. The machine was developed in-house and a pilot project was launched, which is now being expanded, Sankar said, adding that the newly announced ..

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

PhonePe launches cross-border UPI payments service, says it's India's first

Users can activate UPI-linked bank account for the international service at the merchant location, or before that

Penal charges by lenders on RBI radar, to come out with a paper: Das

Das also said RBI has decided to extend UPI to inbound travellers, expanding the scope of Trade Receivables Discounting System and launch a pilot project on QR Code-based Coin Vending Machines

Paytm, PhonePe to launch UPI Lite for smaller epayments soon: Report

UPI Lite was introduced by the National Payment Corporation of India (NPCI) last year to facilitate small ticket transactions up to Rs 200

Amping up DigiLocker as India moves to the next wave of digitisation

India's citizens will soon be able to access a wider range of authentic documents through their digital document wallets

Govt expects 5-7 countries to sign up for India's tech stack by March

The government expects five to seven countries to sign up for adopting India-developed technology platforms like UPI and Aadhaar by March for accelerating digitisation, according to Union minister Rajeev Chandrasekhar. While speaking at India Stack Developer Conference, the minister said that the Prime Minister has decided to offer India technology platforms to countries to help them accelerate digitisation. "I expect by February-March, about 5-7 countries around the world to sign up (for adopting platforms)," Chandrasekhar said. The government plans to reach out to several countries to offer them technology stack (Aadhaar, UPI, Digi Locker, Co-Win, GeM, GSTN etc) as part of its responsibility as G20 Presidency and expects Indian startups and system integrators to gain from the exercise.

Several countries expected to adopt India's tech stack in Feb: Minister

India not looking to monetise platform's features that can be helpful to countries for digitising economies

BHIM dilemma: Transaction value high, but volumes way lower than rivals

From accounting for a quarter of all UPI transactions, app now has a share of just 0.76%

TMS Ep349: India Inc yearly outlook, UPI, power stocks, trans-shipment hub

What's behind Indian CEOs' cautious outlook? Will UPI disrupt the billion-dollar remittances market? Will cold wave keep power stocks warm this winter? Why is a trans-shipment hub? All answers here

Sebi moots ASBA-like payment system for secondary market stock trade

Proposed payment system aimed at preventing misuse of client funds by brokers

Visa, Mastercard may be allowed a share of India's online payments

Growing from nothing in 2016, the smartphone-based UPI - a public utility - handled nearly Rs 13 trillion ($160 billion) in December

Leader in tech, laggard in succession systems

It is difficult to reconcile the ultra-modern technology-driven banking sector with its poor record on customer service, including on the succession front