upi | DD News

June 11, 2026 5:05 PM

India, Nepal launch cross-border remittance mechanism linking UPI and NPI

India and Nepal have launched a peer-to-peer (P2P) cross-border remittance mechanism, marking a significant step towards strengthening digital financial connectivity and economic cooperation between the two neighbouring countries. The system, which became operational on June 6, establishes a direct linkage between India's Unified Payments Interface (UPI) and Nepal's National Payments Interface (NPI), enabling real-time and secure money transfers between individuals through mobile banking ap...

May 19, 2026 4:29 PM

UPI accounted for 85.5% of digital transaction volume in H2 2025: RBI report

Reserve Bank of India said the Unified Payments Interface (UPI) accounted for the largest share of digital payment transaction volume at 85.5 per cent in the second half of 2025, highlighting the platform’s growing dominance in India’s payments ecosystem. According to the RBI’s latest half-yearly Payment Systems Report, National Electronic Funds Transfer (NEFT) and Prepaid Payment Instruments (PPIs) each accounted for 3.6 per cent of transaction volume, while Real Time...

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...

February 6, 2026 6:34 PM

India signs DPI cooperation agreements with 23 countries; UPI goes live in eight nations

India has signed Memorandum of Understanding (MoUs) and agreements with 23 countries to share and cooperate on its Digital Public Infrastructure (DPI), reinforcing the country’s growing role as a global leader in digital governance and fintech innovation. The agreements aim to facilitate the replication and adoption of India’s digital platforms under the India Stack framework, said Union Minister of State for Electronics and Information Technology Jitin Prasada in a written reply to Rajya Sa...

October 6, 2025 10:32 PM

Piyush Goyal Launches UPI in Doha, Strengthening India-Qatar Economic Ties

Union Minister of Commerce and Industry Piyush Goyal launched India’s Unified Payments Interface (UPI) at the Lulu Mall in Doha, marking a new milestone in digital and financial cooperation between India and Qatar. The launch symbolises growing trust across borders and aims to enhance ease of transactions for citizens and businesses in both nations. Expressing his delight at the occasion, Goyal said, “I’m very delighted at the opportunity to launch UPI and UPI transactions. It is not just...

September 18, 2025 1:44 PM

IMF hails India’s UPI as global model for digital payments

India’s Unified Payments Interface (UPI), which now powers over 20 billion transactions a month, has emerged as the world’s largest retail fast payment system and is drawing global recognition, including from the International Monetary Fund (IMF), for revolutionising digital payments. The IMF, in its June 2025 Fintech Note titled “Growing Retail Digital Payments: The Value of Interoperability”, described UPI as a model that transformed India’s payment landscape. In its September issue...

September 9, 2025 10:27 AM

India unveils UPI-UPU integration at Universal Postal Congress in Dubai

Union Minister for Communications and Development of North Eastern Region, Jyotiraditya M. Scindia, today unveiled the UPI–UPU Integration project at the 28th Universal Postal Congress in Dubai, calling it a landmark step to transform cross-border remittances and expand financial inclusion worldwide. The initiative, developed jointly by the Department of Posts, NPCI International Payments Limited and the Universal Postal Union (UPU), integrates India’s Unified Payments Interface (UPI) with ...

August 7, 2025 1:35 PM

India’s financial inclusion gains momentum: Report

The foresight to build a financially empowered India, taking banking beyond branches, is making it a success. From remote to urban areas, a wave of change is noticeable across the country with an inclusive financial system. Bank accounts, credits, pensions, and insurance, which were once a luxury for some, are now accessible to all. According to data released by the Reserve Bank of India (RBI), the accessibility of financial services, products and financial literacy has been on the rise. The ...

August 5, 2025 2:50 PM

Daily UPI-based transactions surpass 700 million for first time

The daily unified payments interface (UPI)-based transactions have crossed 700 million for the first time, touching 707 million, according to the latest National Payments Corporation of India (NPCI) data. The feat was achieved on August 2. Over the past two years, the number of daily transactions has doubled, even though growth has slowed down in comparison to previous years. In August 2023, UPI was registering around 350 million transactions a day, which increased to 500 million daily transac...

July 25, 2025 4:15 PM

UPI payments need to be made financially sustainable for long-term viability: RBI Governor

The era of completely free digital transactions via the Unified Payments Interface (UPI) may not last forever, RBI Governor Sanjay Malhotra said on Friday, adding that the UPI framework should be made financially sustainable going forward. Speaking at an event in Mumbai, Malhotra said the current model—where users pay no fees and the government subsidises banks and other stakeholders—may not be viable in the long run. “Costs will have to be paid. Someone will have to bear the cost,” he...