Page 9 - Upi

UPI transaction rules 2024: New regulations applicable from January 1

UPI new rules: The RBI and NPCI have announced a number of changes to regulations for online payments via UPI. Here are the top 5 such changes

HDFC Bank goes live with NPCI-developed UPI in secondary market platform

HDFC Bank has executed transactions via the NPCI's UPI payments app as part of the 'UPI for secondary market' facility, which which went live on Monday, the lender said in a statement. The move follows markets regulator Sebi allowing the facility through the UPI app developed by the National Payment Corporation of India (NCPI). Effective January 1, Sebi and the stock exchanges permitted trading in the cash segment through block mechanism, on an optional basis, for the secondary market on the lines of Application Supported by Blocked Amount (ASBA) for primary markets where investors' funds will continue to remain in their savings account with the required funds being blocked instead of the investor having to upfront transfer the amount to the broker's account for placing trades. On December 29, the NPCI had said the 'UPI for secondary market' facility will go live from January 1 in the Beta phase for the equity cash segment, with support from clearing corporations, stock exchanges, .

Brokers target March-end timeline for offering UPI block facility

Experts said that the facility will offer a competitive edge to brokers leading to larger adoption over time

Year ender 2023: 10 important regulatory changes that took place in India

2023 was a busy year for regulators like the Reserve Bank of India and the Securities and Exchange Board of India. Here are the 10 key changes on the regulatory front

No silver lining to RBI's cloud

There is no evidence to suggest that a state-run cloud server business would do a better job, with at least two reports of UPI-related data leaks having emerged in the last two years

Digital money heist: What's behind surge in online payment fraud?

More than 47 per cent of all cybercrime is linked to UPI payments, making it the most common form of financial fraud, says a report by FCRF

Congress crowdfunding effort faces bot attacks, data theft attempts

Party sources said the Congress will soon sell merchandise, such as caps signed by Rahul Gandhi, mugs and t-shirts. The party said the initiative is inspired by Mahatma Gandhi's Tilak Swaraj Fund

UPI transactions up 118% in semi-urban, rural retail stores in 2023: Study

UPI is a driving force in the overall growth of digital payments in India, says government separately

RBI hikes UPI limit for hospital, educational payments: What does it mean?

RBI MPC: In another key announcement related to digital payments, Governor Shaktikanta Das proposed to hike the e-mandate for recurring payments to Rs 1 lakh from the current Rs 15,000

Sunil Bharti Mittal discusses UPI, 5G technology with Kenyan President

Mittal also backed the Digital Public Infrastructure (DPI) or the India Stack of technologies to ensure last-mile inclusion and digital adoption

UPI transactions mark new peak of Rs 17.4 trn in Nov, dip in volume

FASTag transactions increase to 321 mn in Nov, compared to 320 mn in Oct

Fintech start-up Kiwi raises $13 mn to expand credit on UPI offering

Kiwi has issued 25,000 credit cards until now and plans to have 0.5 million customers by the end of 2024

Here are pros and cons of linking your credit card with UPI; details inside

The seamless and quick payment facility stands apart as a unique benefit while connecting a credit card to UPI. This also eliminates of the need to carry money or screen one's debit card balance

Paytm partners with travel tech firm Amadeus for search, flight deals

Fintech firm's users will get access to information on low-cost carriers, hotels

NPCI explores methods to increase RuPay on UPI payment adoption by vendors

UPI payments via RuPay credit cards have experienced slower adoption due to confusion in transaction classification

Kuala Lumpur looking at accepting RuPay, UPI service: Malaysian FM

India and Malaysia are firming up a framework for conducting trade in national currencies and initiating a process to review the 12-year-old comprehensive economic cooperation agreement to include new domains and items, Malaysian Foreign Minister Zambry Abdul Kadir said. At the end of a three-day visit to India, Kadir told PTI that Malaysia is also in the process of accepting India's Unified Payments Interface (UPI) system and RuPay payment service that will boost overall financial engagement. The Malaysian foreign minister said Prime Minister Anwar Ibrahim is likely to visit India in the first half of next year in reflection of growing upswing in overall ties between the two nations. He said both sides are keen to expand trade engagement in new and emerging areas such as electronics, semiconductors, fintech, renewable energy, new technology and startups besides joining hands in defence industrial cooperation. Ways to further boost the overall trajectory of ties were discussed ...

7 years of demonetisation: Change in use of cash in Indian economy

It's been seven years since the Centre announced demonetisation. A lot has happened since then. Digital India has risen, and customers' way of spending has changed. But is cash still the king?

Fintech may emerge as substitute for traditional banking: RBI's CAFRAL

CAFRAL is a non-profit organisation set up by the RBI in 2011 to promote research and learning in banking and finance

India's UPI transactions scale new high in Oct; clock Rs 17.2 trn in value

According to data shared by the NPCI, this is 56 per cent higher in volume terms compared to 7.30 billion in October 2022 and 42 per cent higher in value terms compared to Rs 12.12 trillion last year

HMD Global launches Nokia 105 Classic phone with UPI app at Rs 999: Details

The Nokia 105 Classic is offered in four variants - single SIM, dual-SIM, with charger, and without charger. The base model with single SIM and without charger is priced at Rs 999