upi

December 3, 2024 4:58 PM

UPI transactions may reach 25 billion by 2025

India’s Unified Payments Interface (UPI) reached a milestone in October, recording 16.58 billion financial transactions in a single month, reflecting a 45% year-on-year growth from 11.40 billion transactions in October 2023. With ₹23.49 lakh crore transacted during this period, UPI continues to dominate India’s digital payment landscape. UPI’s Rise and Transformation Launched in 2016 by the National Payments Corporation of India (NPCI), UPI has fundamentally reshaped India’s payment ...

November 24, 2024 3:42 PM

Internationalisation of UPI progressing rapidly: RBI

The internationalisation of the unified payments interface (UPI) is progressing rapidly, as India emerges as a world leader in leveraging digital technologies for transformative change, according to a Reserve Bank of India (RBI) report. The UPI hit a milestone of 16.6 billion transactions in a month in October, with improvements in its capabilities, including successful instant debit reversals at 86 per cent, up from 77 per cent in the same month last year. "India’s UPI, an open-ended system...

November 21, 2024 8:13 AM

India and Guyana ink 10 MoUs covering agriculture, hydrocarbons, UPI, and defence

India and Guyana signed 10 Memorandums of Understanding (MoUs) during Prime Minister Narendra Modi's visit to the country, covering areas such as agriculture, pharmaceuticals, and the deployment of UPI in the Caribbean nation. Key agreements include an MoU on Cooperation in the Hydrocarbons Sector, focusing on joint efforts in crude sourcing, natural gas collaboration, and infrastructure development. This partnership also aims to enhance capacity building and expertise sharing across the hydroc...

October 17, 2024 3:46 PM

Digital India Innovation Zone at IMC 2024 highlightes innovative technologies

The Ministry of Electronics and Information Technology (MeitY) on Thursday inaugurated the Digital India Innovation Zone at the India Mobile Congress (IMC) 2024, offering delegates immersive interactive experiences focused on India’s Digital Public Infrastructure (DPI). The Digital India Innovation Zone aims to engage visitors with key DPIs such as DigiLocker, UPI, Aadhaar, eSanjeevani, and ONDC, showcasing the significant technological advancements achieved under the Digital India initiative...

October 8, 2024 5:06 PM

India and UAE to interlink payment systems for smooth cross-border transactions

Union Commerce Minister Piyush Goyal announced that India and the UAE are working on interlinking India’s Unified Payments Interface (UPI) with the UAE’s AANI system to enable seamless cross-border transactions between the two countries. This move is set to benefit the over 3 million Indians residing in the UAE, allowing them to use the power of UPI and AANI for smoother financial exchanges. Goyal announced during a press conference following the 12th meeting of the India-UAE High-Level Joi...

May 6, 2024 4:09 PM

India, Ghana strengthen ties at 4th joint trade committee meeting

The 4th session of the India-Ghana Joint Trade Committee (JTC) recently concluded in Accra, with both nations resolving to enhance bilateral trade and investment cooperation. According to a press release from the Ministry of Commerce and Industry, during the two-day meeting from May 2-3, India and Ghana agreed to operationalize the Unified Payment Interface (UPI) of the National Payments Corporation of India (NPCI) on Ghana's Interbank Payment and Settlement Systems (GHIPSS) within six months. ...