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UPI: 500-crore Milestone in Volume
In March 2022, India’s Unified Payments Interface (UPI) has crossed the 500-crore mark in terms of volume and in terms of value it was close to touching the Rs 10-lakh crore milestone. Overview: Around 540.56 crore payments have been processed ..
Month: Current Affairs - April, 2022
Category: Economy & Banking Current Affairs - 2024
123PAY: UPI for Feature phones
On 8th March 2022, Reserve Bank of India (RBI) Governor Shaktikanta Das launched Unified Payments Interface (UPI) for feature phones called “UPI123Pay”. About UPI 123PAY UPI ‘123PAY’ is a three-step method to initiate and execute services for those who use ..
Month: Current Affairs - March, 2022
Category: Economy & Banking Current Affairs - 2024
India’s UPI Platform in Nepal
The first country to adopt India’s UPI system will be Nepal which will be critical in modernising the neighbouring country’s digital economy. Overview: To deliver the services in Nepal, NPCI International Payments Ltd (NIPL), NPCI’s international arm, has partnered with ..
Month: Current Affairs - February, 2022
Category: Economy & Banking Current Affairs - 2024
Digital Government Mission
The Digital Government Mission was launched by the Ministry of Electronics and Information Technology. The mission will deliver government services to the citizens. It will use machine learning and artificial intelligence to deliver the services. How will the mission work? ..
Month: Current Affairs - January, 2022
Category: Government Schemes Current Affairs
Digital India: India leads in Digital Payments
The UK based payments system company ACI recently released a report on digital payments. According to the report, India has the highest number of real-time online transactions in 2020. Key Findings of the Report The Digital payment market of India ..
Month: Current Affairs - April, 2021
WhatsApp Pay: NPCI approves WhatsApp to join UPI Payment
On November 6, 2020, the National Payment Corporation of India approved the Facebook owned messaging Application, WhatsApp to “Go Live” on UPI. This is to be achieved through new feature of WhatsApp called “WhatsApp Pay”. Key Highlights In order to ..