Topic: UPI
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-Singapore link Digital Payments UPI and PAYNOW
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....
MobiKwik launches UPI Payment with RuPay Credit Card
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...
QR Code-based Coin Vending Machine
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...
PhonePe launches cross-border transaction facility
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...
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,...
Five to Seven Countries Sign Up for adopting India Stack
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...
First India Stack Developer Conference
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...
India to allow NRIs to Use UPI
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...
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...
Six years of ‘Bharat Interface for Money’
On the 30th of December 2016, the Prime Minister of India, Narendra Modi, launched the Bharat Interface for Money (BHIM) payment app. Six years later, BHIM is still...
