Topic: Digital Payments
RBI Increases UPI Lite Wallet and Transaction Limits
The Reserve Bank of India (RBI) has raised the UPI Lite wallet limit from ₹2,000 to ₹5,000, which aims to encourage digital transactions. The new rules were announced...
India’s UPI Achieves Record Transactions in October
India’s Unified Payments Interface (UPI) reached a milestone in October 2024, recording 16.58 billion transactions in one month. This marks a 45% increase from the previous year. The...
What is Aadhaar Enabled Payment System (AEPS)?
The Aadhaar Enabled Payment System (AEPS) is transforming banking access in rural and semi-urban regions. It utilizes Aadhaar numbers and biometric authentication for seamless transactions. This system promotes...
Digital Payments Utsav
The Digital Payments Utsav is to be launched by the Ministry of Electronics and Information Technology. The main objective of the event is to create awareness of digital...
Reserve Bank of India-Digital Payments Index
The RBI constructed the Digital Payments Index to learn about digital payments in the country. The index is calculated based on five parameters namely Payment Enablers, Consumer centricity,...
BharatPe Gets Nod for ePayment Aggregator Licence
Fintech unicorn BharatPe recently announced that it has received in-principle approval from the Reserve Bank of India (RBI) to operate as a Payment Aggregator. The approval was granted...
RBI’s Launch of Utkarsh 2.0
The Reserve Bank of India (RBI) has launched Utkarsh 2.0, the second phase of its medium-term strategy for strengthening regulatory and supervisory mechanisms. Utkarsh 2.0 builds upon the...
UPI Reaches Record High in December
India’s Unified Payments Interface (UPI) processed a record 7.82 billion transactions in December, worth a total of INR 12.82tn ($174.6bn). This represents an increase of 7.12% in volume...
Geo-Tagging of Payment System Touch Points
The framework that is related to geo-tagging of payment system touch points has been released by the Reserve Bank of India (RBI). Overview: This framework has been created...
RBI’s Digital Payment Index
The Reserve Bank of India recently released the Digital Payment Index. According to the index, the digital payments in the country have increased by 40% in September 2021... Digital Payments grew 30.19% during the Financial Year ended March 2021: RBI
RBI data has showed that digital payments in India have recorded a growth of 30.19% during the financial year which ended on March 2021, Highlights The newly constituted...
