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 recently and are effective immediately. New Wallet Limit The wallet limit for ..

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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 total amount transacted was ₹23.49 lakh crore. UPI continues to revolutionize India’s ..

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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 financial inclusion for underserved populations. What is AEPS? AEPS stands for Aadhaar ..

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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 payments. It is being conducted on the sidelines of the G20 meeting. ..

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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, payment infrastructure on the demand side, and payment infrastructure on the supply ..

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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 to the company’s wholly-owned subsidiary, Resilient Innovations Private Ltd. This comes as ..

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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 foundation laid by Utkarsh 2022, which was launched in July 2019 and ..

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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 and 7.73% in value compared to November. On a year-on-year basis, volume ..

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