UPI

RBI Increases UPI Lite Wallet and Transaction Limits

December 6, 2024

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-Singapore link Digital Payments UPI and PAYNOW

February 21, 2023

UPI is the mobile payment method in India. Similarly, PAYNOW is a mobile payment method in Singapore. The countries have planned to link these two mobile payment methods. The linking was done virtually inaugurated by the RBI Governor Shaktikanta Das ..

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MobiKwik launches UPI Payment with RuPay Credit Card

February 11, 2023

UPI allows users to use multiple bank accounts on the same platform. Till 2022, credit cards couldn’t be used on UPI. In June 2022, the Reserve Bank of India allowed linking credit cards with UPI. Following this, MobiKwik is the ..

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QR Code-based Coin Vending Machine

February 9, 2023

The machine was launched by the Reserve Bank of India. The apex bank finalized its decision of launching the machine during its recently held MPC meeting. The QR code is being introduced as fake currency notes are increasing in coin ..

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PhonePe launches cross-border transaction facility

February 8, 2023

The Phone Pe app was developed based on Unified Payments Interface. It is now owned by Flipkart (A subsidiary of a US Company called Walmart). The headquarters of Phone Pe is in Bengaluru. The app is available in eleven Indian ..

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Reserve Bank of India-Digital Payments Index

February 3, 2023

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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Five to Seven Countries Sign Up for adopting India Stack

January 26, 2023

India Stack is the collection of Application Peripheral Interfaces launched by the Government of India. This includes BHIM, Digilocker, UPI, and several other applications. According to a recent report from the IT Ministry around seven countries are to join India ..

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First India Stack Developer Conference

January 25, 2023

After the COVID pandemic, India emerged as one of the pioneers in digital technologies. To develop them further, the Ministry of Electronics and IT recently conducted the India Stack Developer Conference. This is the first time India is hosting such ..

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India to allow NRIs to Use UPI

January 18, 2023

The National Payments Corp. of India (NPCI) has made a significant move that allows Indians abroad to use the fast payments network Unified Payments Interface (UPI) as long as their domestic bank accounts are linked to their foreign mobile numbers. ..

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UPI Reaches Record High in December

January 2, 2023

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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