Latest News, Updates & Breaking Headlines
India processes around 85 per cent of its digital payments via the Unified Payments Interface (UPI), making the country a leading example of inclusive, secure, and scalable Digital Public Platforms (DPPs), Reserve Bank Governor Sanjay Malhotra said.Speaking at the “High-Level Dialogue on Forging Economic Resilience through Digital Public Platforms” organised by the RBI on the…
Cash continues to hold a strong grip on India’s payment landscape, accounting for nearly half of all transactions, even as digital payments surge across the country.A report by Care Edge Ratings found that cash usage in private final consumption expenditure (PFCE) remained at around 50% in Q1FY26. It said that even though digital payments have…
Banks have approached RBI seeking green light for a minor change, to stop sending SMS alerts for transactions under Rs 100.They say the rise in small online payments, especially through UPI, has flooded customers with notifications, leading to alert fatigue. Sometimes, the customers even end up missing messages for bigger transactions, sources familiar with the…
Union finance minister Nirmala Sitharaman on Tuesday launched the foreign currency settlement system in GIFT city on Tuesday, at the sixth Global Fintech Fest in Mumbai. With this, the GIFT IFSC has joined a select group of international financial centres that can settle foreign currency transactions locally.At the event, the FM also highlighted that India…
India’s digital payments ecosystem is set for a major security overhaul as the Reserve Bank of India (RBI) introduces new authentication guidelines, effective April 2026. The new framework will require banks to adopt a risk-based model for verifying transactions — a move aimed at strengthening fraud prevention while keeping the payment experience smooth for users.Under…
Navratri, GST cuts spark festive shopping boom India witnessed an unprecedented rise in digital transactions as the Navratri festival season coincided with the biggest GST cuts on high-value consumer items. According to RBI data, total electronic payments soared to Rs 11.31 lakh crore on Monday, nearly 10 times the Rs 1.18 lakh crore recorded the…
