Unified Payments Interface (UPI), the digital payment system that rides on smartphones and increased internet connectivity, has shown a quantum jump and is now a preferred mode of payment. The Economic Survey released on 31st January said “the progress of UPI has been remarkable”. In the fiscal year ending March […]
UPI has once again emerged as the most favoured mode of payment in India. The UPI transactions volume and value has almost doubled since last year and recorded about an 88 per cent increase in volume and over 71 per cent increase in value in the third quarter of the current […]
The Reserve Bank of India (RBI) on December 1, 2022, began the much-awaited trial run of India’s first retail central bank digital currency (CBDC) or ‘e-rupee’ in four cities—Mumbai, Delhi, Bengaluru, and Bhubaneswar—through eight participating banks. CBDC is not expected to replace India’s premier instant payment solution, Unified Payment Interface (UPI), instead, […]
United Payment Interface (UPI), a term unheard or unbelieved until April 2016, but in Modern India, UPI is the flag-bearer of the ongoing Financial Revolution. From a tea vendor selling a Rs 10 Cutting Chai to a showroom with a pricey product range, a large section of our society has […]
The RBI discussion paper issued earlier this month said, UPI as a fund transfer system is like IMPS and therefore, it could be argued that the charges in UPI need to be similar to charges in IMPS for fund transfer transactions. To clarify, Ministry of Finance quoted “UPI is a […]
EDUINDEX NEWS 