digital payments

August 25, 2026 11:55 AM

UPI: From a digital payment platform to an engine of India’s digital transformation

Under the leadership of Prime Minister Narendra Modi, India’s digital transformation has emerged as a powerful example of how technology can be harnessed to make everyday life simpler, faster and more inclusive. The Unified Payments Interface (UPI), one of the flagship initiatives of this transformation, reflects the Prime Minister’s vision of building a digitally empowered and financially inclusive India. Since its launch in 2016, UPI has grown from a nascent payment platform into a globall...

April 30, 2026 9:55 PM

Unified Payments Interface at 10: UPI emerges as world’s largest real-time payments platform, anchoring India’s digital economy

A decade after its launch, the Unified Payments Interface (UPI) has transformed from a fledgling digital experiment into the world’s largest real-time payments platform, powering nearly half of global instant payment transactions and redefining how India pays, saves and transacts. Launched on April 11, 2016 by the National Payments Corporation of India (NPCI) under the regulatory oversight of the Reserve Bank of India (RBI), UPI today stands as the backbone of India’s digital economy - driv...

September 16, 2025 12:44 PM

RBI issues guidelines for payment aggregators, gateways to boost digital payment ecosystem

The Reserve Bank of India (RBI) on Tuesday issued detailed regulatory guidelines for Payment Aggregators (PAs) and recommended baseline technology standards for Payment Gateways (PGs) in a bid to enhance safety, transparency, and resilience in the country’s fast-growing digital payments ecosystem. In its notification titled “Guidelines on Regulation of Payment Aggregators and Payment Gateways,” the central bank clarified that PAs, being entities that handle funds, will be directly regulat...

September 1, 2025 4:36 PM

India Post Payments Bank marks 8th foundation day

India Post Payments Bank (IPPB) today celebrated its 8th Foundation Day, also known as IPPB Day, reaffirming its commitment to providing inclusive, accessible and affordable banking services at the last mile. Since its launch in 2018, IPPB has become one of the world’s largest financial inclusion initiatives, leveraging the reach of over 1.64 lakh post offices and 1.90 lakh Postmen and Gramin Dak Sevaks (GDS). The Bank has on-boarded more than 12 crore customers, processed billions of digital...

July 29, 2025 3:31 PM

India’s digital payments index rises sharply to 493.22, says RBI

Signalling India’s accelerating digital payments revolution, the Reserve Bank of India (RBI) on Monday announced that its Digital Payments Index (RBI-DPI) surged to 493.22 in March 2025, up from 465.33 in September 2024. The RBI-DPI, introduced in January 2021 with March 2018 as the base period set at 100, is designed to track the extent of digitalisation in payments across the country. The consistent upward trend reflects India's rapid adoption of digital payment systems, spanning both urban...

July 21, 2025 4:02 PM

UPI transforms everyday life in India

India's Unified Payments Interface (UPI) has transformed how millions manage money, making the country a global leader in fast, real-time digital payments. The world is also recognizing the power of Digital India and UPI. A recent IMF note titled "Growing Retail Digital Payments: The Value of Interoperability" highlights UPI's success as a model of public digital infrastructure. UPI has made a name for itself in the fintech world. Real-time digital transactions in India now exceed the total of ...

July 21, 2025 3:54 PM

UPI revolution pushes India to global lead in real-time digital payments

India has firmly established itself as a global leader in real-time digital payments, with the Unified Payments Interface (UPI) at the forefront of this transformation. According to a recent IMF note titled "Growing Retail Digital Payments: The Value of Interoperability", India’s digital infrastructure has become a global benchmark, with UPI now processing over 18 billion transactions each month. Launched in 2016 by the National Payments Corporation of India, UPI has redefined how Indians sen...

May 27, 2025 4:39 PM

Fintech driving growth for MSMEs and merchants, says FM Sitharaman

Union Finance Minister Nirmala Sitharaman on Tuesday said that India’s fintech companies are playing a crucial role in expanding the country’s Digital Public Infrastructure (DPI) and empowering merchants as well as micro, small, and medium enterprises (MSMEs). The Finance Minister visited the office of Pine Labs, a digital fintech company based in Noida, and interacted with its employees and staff members. She acknowledged “India’s fintech firms’ contribution to expanding the country...

January 28, 2025 12:41 PM

UPI’s share in India’s digital payments surged to 83%: RBI report

The share of the Unified Payments Interface (UPI) in India’s digital payments has surged from 34 per cent in 2019 to an impressive 83 per cent in 2024, with a remarkable compound annual growth rate (CAGR) of 74 per cent over the last five years, according to the RBI’s payment system report. In contrast, the share of other payment systems like RTGS, NEFT, IMPS, credit cards, debit cards, etc., in digital payments volume declined from 66 per cent to 17 per cent during the same period, the rep...