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The Latest Breaking News from NPCI

UPI processes Rs 29.9 lakh crore in May; transaction volumes hit 23.2 billion

Daily average transaction volumes rose to 748 million in May from 745 million in April, reflecting higher adoption of UPI for retail consumer payments.

The Economic Times

West Bengal Annapurna Bhandar Yojana notified: Check eligibility, direct link to portal, DBT rules, how to apply and Lakshmir Bhandar differences

West Bengal's Annapurna Yojna will soon replace Lakshmir Bhandar Scheme. Eligible women will receive Rs 3,000 monthly. This financial aid aims to boost support for economically weaker households. Existing beneficiaries will be migrated automatically. Fresh applications will be accepted online and offline. The scheme is set to begin from June…

The Economic Times

Dara Khosrowshahi on Uber’s India bets, AI & jobs; Nvidia’s Simplismart bet

Happy Monday! Uber CEO Dara Khosrowshahi sat down with ET to discuss the company’s ambitions in (and for) India, among other things. This and more in today’s ETtech Morning Dispatch.

The Economic Times

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One soundbox soon for all payment apps as NPCI readies platform

NPCI is developing a unified, interoperable soundbox system for UPI transactions, aiming to eliminate the need for merchants to use multiple devices. This move could significantly reduce costs for small businesses and streamline payment confirmations across all apps, fostering greater efficiency in the digital payments ecosystem.

The Economic Times

Why Is Apple Pay Stuck in India While the World Taps and Pays?

Apple Pay promises simple tap and pay convenience, but in India this experience is still not available. Despite millions of iPhone users and India’s global leadership in digital payments, Apple Pay has not yet entered daily use. Many users feel confused when they see Apple Pay logos online but cannot…

MyLifeXP

PayPal's new cross-border payments platform looks to make sending money easier for 2 billion users

PayPal World will facilitate cross-border, multi-currency payments, with launch partners from the US, China, India and Mexico.

TechRadar

UPI gets global launch at Eiffel Tower in France

India launches UPI at Eiffel Tower in Paris, marking PM Modi's vision of taking UPI global, with French tie-up.

The Hindu

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MGNREGS deadline for mandatory Aadhaar-based wage payments extended till December 31

Centre has extended, for the fifth time, its deadline to mandate Aadhaar-based wage payments to MGNREGS workers till the end of the year; 41% of job card holders under the scheme are still unprepared

The Hindu

18.3% MGNREGS workers out of Aadhaar-based wage system

The government contends that ABPS accounts plug leaks, ensure speedy payments, and reduce rejections.

The Hindu

HRF and LibTech team flags large-scale deletion of job cards and names of MGNREGS workers in A.P.

A LibTech report has put the deletions in 2022-23 at a whopping 59.6%. A reality check by the team of HRF and LibTech in three villages spread over two mandals in Parvathipuram Manyam district shows that the reasons cited are erroneous in the case of 25 of the 30 beneficiaries.

The Hindu

Soon, AI will let you make a UPI payment using voice

RBI proposes to increase UPI Lite per transaction payment limit to ₹500 and enable 'Conversational Payments' on UPI, 'UPI-Lite' on-device wallet and offline payments on UPI using NFC technology to further deepen digital payments in India. This will help in faster, reliable and contactless mode of payments for everyday small…

The Hindu

Explained | Daily limit on UPI transactions

As transactions facilitated by the Unified Payments Interface (UPI) breach record highs, banks have opted for daily limits. These are over and above the already imposed ceilings mandated by the facilitator, the National Payments Corporation of India (NPCI), in 2021. The idea is to sustain the smoother functioning of the…

The Hindu

Explained: Why IMF called India's direct benefit transfer scheme a 'logistical marvel'

NEW DELHI: The International Monetary Fund (IMF) has called the deployment of India's direct benefit transfer (DBT) scheme as a 'logistical marvel' which has reached hundreds of millions of people.

The Times of India

No charge for RuPay credit card use on UPI for transaction up to ₹2,000, says NPCI

National Payments Corporation of India said the existing process from the app will apply to credit cards too

The Hindu

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The Hindu

UPI expands further globally; Indian travellers to U.K. to enjoy hassle-free digital transactions

NPCI International Payments Ltd partners with U.K.’s PayXpert

Bangkok Post

In India's Mobile-Payments Boom, Even Beggars Get QR Codes

A beggar in the eastern Indian state of Bihar strolled through a train station one recent weekday, toting a metal pail for cash and a tablet computer with a QR code stuck on the back.

The Times of India

Crypto payments are frozen across India, hitting trading

BENGALURU: When Surojit Chatterjee walked on stage at a Coinbase Global Inc conference in Bengaluru, India, on April 7, he had little reason to anticipate the fallout that would shortly ensue. Chatterjee, the company’s chief product officer, told the assembled audience that crypto investors would now be able to use…

Benzinga

Regulatory Trouble Ahead? India's Central Bank Distances Itself From Coinbase's UPI Plans

As cryptocurrency exchange Coinbase Global Inc. (NASDAQ: COIN) forayed into India and said it was working on getting UPI on its platform for all users — the National Payments Corporation of India, a subdivision of the country's central bank, sought to disassociate itself with the move.

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The Times of India

Individual investors can use UPI for up to Rs 5 lakh payment in public issues

NEW DELHI: Capital markets regulator Sebi on Tuesday said individual investors applying in public issues of equity shares and convertibles can use unified payment interface (UPI) for application amount up to Rs 5 lakh.

The Hindu

IRCTC, NPCI and Bank of Baroda arm launch co-branded credit card for railway customers

Customers can also use the credit card for other shopping purposes

People

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