New Delhi, April 6 (IANS) Unified Payments Interface (UPI) processed 228.5 billion transactions in 2025, marking a 33 per cent year‑on‑year increase, while total transaction value touched Rs. 299.74 trillion, a report said on Monday.The report from Worldline said that UPI’s growth was broad‑based, with both person-to-person (P2P) and person-to-merchant (P2M) transactions rising, with the latter recording a 34 per cent growth to 143.82 billion transactions.The overall average ticket size …
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New Delhi, April 4 (IANS) The share of MSMEs in India’s GDP will rise to 40 per cent by 2030, from about 30 per cent currently, a report said on Saturday.The report from B2K Analytics said India’s GDP is projected to reach Rs 537.96 trillion by 2030 if current growth trend continues, lifting the MSME sector’s contribution to roughly 40 per cent, or about Rs 215.18 trillion.The MSME sector’s total funding requirement is estimated at Rs 162.92 trillion by 2030, the report added.Out of the to…
New Delhi, March 31 (IANS) Road users across India will no longer be able to pay toll fees in cash from April 1 as the National Highways Authority of India (NHAI) shifts to a fully digital payment system.In a major step towards modernising highway travel, NHAI will implement a complete ban on cash payments at toll plazas across the country.From April 1, commuters will have to pay toll charges only through digital modes such as FASTag or UPI.The move is aimed at improving efficiency and bringing …
New Delhi, March 29 (IANS) From April 1, 2026, making digital payments in India is set to become more secure, but slightly more time-consuming, as the Reserve Bank of India (RBI) rolls out new rules for online transactions.The central bank has made two-factor authentication (2FA) mandatory for all digital payments, including those made through UPI, debit and credit cards, and mobile wallets.This means that OTP alone will no longer be sufficient to complete a transaction. Users will now have to g…
New Delhi, March 27 (IANS) India will see a slew of financial and regulatory changes with the beginning of the new fiscal year on April 1, 2026, affecting taxes, fuel, banking and rail travel.The Income Tax Act 2025 will replace the Income Tax Act 1961, simplifying terminology by using the word “Tax Year” instead of erstwhile confusing words ‘Assessment Year’ (AY) and ‘Previous Year’ (PY).Under the new tax regime individuals earning up to Rs 12 lakh annually will pay zero tax due to …
New Delhi, March 24 (IANS) NPCI BHIM Services Limited (NBSL), a wholly owned arm of National Payments Corporation of India (NPCI), on Tuesday introduced a new biometric authentication feature for UPI payments on the BHIM Payments App.This update allows users to approve transactions of up to Rs 5,000 using their smartphone’s fingerprint or facial recognition, making payments faster and more convenient.With this feature, users no longer need to enter their UPI PIN for every small transaction. It…
New Delhi, March 23 (IANS) The World Gold Council’s ‘Gold as a Service’ platform announced on Monday to create a new market infrastructure to link physical custody of yellow metal with digital systems will improve access to digital gold products.The report from Boston Consulting Group India said Gold as a Service would act as an open platform, connecting the physical custody of gold with the “digital systems used to issue and manage gold-backed products.”By standardising custody coordination, …
New Delhi, March 22 (IANS) As Prime Minister Narendra Modi completed over 24 years as the head of an elected government, Akhilesh Mishra, CEO of BlueKraft Digital Foundation, a leading think tank, said the milestone reflects a rare democratic endorsement sustained across multiple elections.In a post on X, Mishra said that in a fiercely competitive democracy like India, longevity in power is not granted easily but must be earned repeatedly through public trust.“In a fiercely competitive democra…
New Delhi, March 21 (IANS) In yet another example of UPI going global, India and Bhutan have announced to launch a cross-border remittance initiative, which will enable efficient and affordable remittance services between both the countries.This will happen via the postal network by integrating the Universal Postal Union (UPU) PosTransfer system with India’s Unified Payments Interface (UPI). This initiative will enhance financial connectivity and make digital remittance services more accessibl…
Panaji, March 19 (IANS) In a major breakthrough against digital crimes, the Goa Crime Branch has busted an inter-state prostitution racket, arresting three persons responsible for creating and managing websites used to disseminate sexually explicit and objectionable content, the police said on Thursday.The crackdown, led by the Crime Branch in coordination with the Social Media Monitoring Cell, resulted in the blocking of 22 illegal escort websites.After a period of intense surveillance, an FIR …