upi: Over 11 billion UPI transactions recorded in Oct, purchases cross Rs 17 lakh cr

2023-11-01 16:52:49 Over 11 billion transactions worth Rs 17.16 lakh crore via Unified Payments Interface (UPI) took place in October, the National Payments Corporation of India (NPCI) said on Wednesday. The transaction amount of Rs 17.16 lakh crore in October was due to festival season, it said. In volume terms, the number of transactions touched … Read more

cross border: RBI in dialogue with other central banks to reduce cost of cross border remittances

2023-09-29 13:26:48 The Reserve Bank of India has initiated dialogues with countries having sizable Indian diaspora to bring down cost of remittances, deputy governor T Rabi Sankar said. According to the World Bank, the average cost of cross border remittance is about 6.2% of the value of a transaction. “Such a high cost in today’s … Read more

rbi: Private sector should also fund GPGs to aid inclusion: Shaktikanta Das

2023-08-11 19:25:00 MUMBAI: The central bank governor Friday urged India‚Äôs private sector to help build commercially viable public infrastructure so that the broader social objective of deepening financial inclusion is achieved. Terming the Unified Payments Interface (UPI), a public sector initiative, Reserve Bank of India (RBI) Governor Shaktikanta Das said that it was not necessary … Read more

upi: Universal Postal Union to evaluate UPI platform for cross-border remittances using global postal network

2023-07-18 17:49:21 The Universal Postal Union will evaluate UPI for integrating the unified payment interface with cross-border remittances using global postal network, an official release said on Tuesday. Director General of Universal Postal Union (DG UPU) Masahiko Metoki, who is on a three-day visit to India for the inauguration of UPU Regional Office, also met … Read more

“Many Countries Eyeing India’s UPI: Japan Expresses Interest in the Revolutionary Payment System”

2023-05-31 01:15:11 Japan also expressed interest in joining hands with India’s digital payment system, Unified Payment Interface or UPI. Many countries have already approached India with interest in using UPI. Japan is also focusing on UPI while discussions on this issue are progressing with various countries. India’s digital payment system has been brought to the … Read more

upi: NPCI chief says basic UPI services will remain free

Kumarakom: The basic UPI services will continue to remain free, and India will reach an agreement with some of the countries by the end of 2023 to start a discussion on remittances and payments, said Dilip Asbe, managing director & CEO, National Payments Corporation of India (NPCI). “The basic services of UPI will continue to … Read more