New Delhi, July 1 (IANS) India’s unified payments interface (UPI) now accounts for nearly 49 per cent of the world’s real-time payment transaction volume, making it the largest real-time payment system globally, the government said on Wednesday.The achievement comes as the Digital India programme completes 11 years since its launch on July 1, 2015. According to the government, the initiative has transformed the country’s digital public infrastructure, enabling faster payments, improving public s…
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Noida, July 1 (IANS) Noida Police on Wednesday busted a gang that used to loot commuters while giving them lifts in their car and then coercing them to transfer funds from their accounts, via UPI and digital payment platforms. Four accused were apprehended by the police in connection with this and various items were recovered from their possession, including stolen iPhone 16, a smartwatch, a charger, an Aadhaar card, Rs 2,300 in cash, and the car used in the crime.The arrests were made in Noida’…
New Delhi, July 1 (IANS) The Unified Payments Interface (UPI) transaction volumes rose 23 per cent (year-on-year) to 22.72 billion in June, while UPI transaction value surged 20 per cent to Rs 28.92 lakh crore last month, according to data released by the National Payments Corporation of India (NPCI) on Wednesday.On an average basis, UPI processed around 757 million transactions daily in June, with average daily transaction value standing at about Rs 96,405 crore.In May, UPI transaction volumes …
New Delhi, June 30 (IANS) Commerce and Industry Minister Piyush Goyal on Tuesday said that with unified payments interface (UPI) now live in Greece, eligible customers can transfer money instantly, securely, and seamlessly, with transaction costs reducing drastically to a fraction of conventional transfer costs.The increasing global acceptance and appreciation of UPI “reflects the trust in Prime Minister Narendra Modi’s vision of building technology-led solutions that create value beyond bor…
New Delhi, June 27 (IANS) What began as a simple payment platform 10 years ago now powers daily digital commerce across India as UPI transactions increased from just 2 crore in FY2016-17 to over 24,162 crore in FY 2025-26, an official fact-sheet said on Saturday.The JAM Trinity — Jan Dhan, Aadhaar, and mobile connectivity — revolutionised financial inclusion and welfare delivery in India. It brought millions into the formal banking system and enabled seamless access to government services.Ja…
New Delhi, June 27 (IANS) India is emerging as a global leader in Digital Public Infrastructure (DPI), driven by scalable and citizen-centric digital governance platforms and the country has signed MoUs with 24 countries for cooperation on India Stack and DPI systems, covering digital identity, payments, data exchange, and service delivery (as of February 2026), an official fact-sheet said on Saturday.Over the past 11 years, India has built one of the world’s largest Digital Public Infrastruct…
New Delhi, June 25 (IANS) India’s asset and wealth management industry is projected to reach $1.7 trillion in assets under management by 2030, up from $0.9 trillion in 2024, implying a compound annual growth rate of 11.6 per cent, a report said on Thursday.The growth in asset and wealth management industry is driven by parallel growth in institutional capital pools and retail financialisation, the report from PwC said.It further highlighted that India’s rapid growth outlook sits within a broad…
Washington, June 25 (IANS) US lawmakers debating the future of the country’s payment system pointed to India’s Unified Payments Interface (UPI) as an example of how modern public payment infrastructure can drive private-sector innovation, as fintech firms urged Congress to overhaul regulations governing access to America’s payment network.The comparisons with India came during a hearing of the House Financial Services Committee’s Subcommittee on Financial Institutions on Wednesday (local time), …
New Delhi, June 24 (IANS) India is emerging as a third force in the global artificial intelligence (AI) race, seeking to position itself alongside the US and China while promoting a model that combines technological innovation with broader access and democratic participation, a report has said.The analysis by Pressenza highlighted that the country is increasingly viewing AI not only as a tool for development but also as a driver of productivity, industrial competitiveness, export growth and tech…
New Delhi, June 23 (IANS) India is emerging as a distinctive sovereign AI market, where regulation, innovation and national digital public infrastructure are closely linked, and 96 per cent of policymakers are advancing a strategy in this field, a report said on Tuesday.The report from Dell Technologies said 97.7 per cent of government leaders expressed confidence in agentic AI as an adoption accelerator, with 44.4 per cent believing it will play a major role well above the Asia Pacific average …