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
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
2023-08-11 19:25:00 MUMBAI: The central bank governor Friday urged India’s 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
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
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
2023-05-11 16:22:40 The government wants all e-commerce players to become part of the Open Network for Digital Commerce (ONDC) and this initiative is not trying to put anybody out of business, a top official said on Thursday. Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said that the … Read more
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
Mumbai: Reserve Bank of India governor Shaktikanta Das on Monday said payments through UPI (unified payment interface) have grown exponentially in the past 12 months with daily transactions crossing 36 crore, which is up 50 per cent from 24 crore in February 2022. In value terms, these transactions are worth Rs 6.27 lakh crore, registering … Read more