UPI Achieves Historic Milestone: Rs 29.88 Lakh Crore in July Transactions Signals Digital Payment Revolution
India's UPI platform achieved an unprecedented milestone in July, recording its highest-ever monthly transaction value of Rs 29.88 lakh crore. This remarkable growth, coupled with record transaction volumes, solidifies UPI's role in India's digital…
India’s Retail Credit Revolution: Access Doubles in a Decade, Driven by Consumption and Demographic Shifts
India has witnessed a remarkable surge in formal retail credit access over the last decade, more than doubling its reach. This growth is fueled by consumption-led lending, primarily personal loans, and extends to younger borrowers and women nationwide,…
NTT Data Payments Pioneers Global UPI Expansion with Innovative Hub-Based Architecture
NTT Data Payment Services is pioneering a hub-based architecture to connect India's UPI with other Asian fast payment systems, revolutionizing cross-border retail transactions and enhancing global digital payment interoperability under its Adaptis brand.
Indian Banks Levy Rs 7,100 Crore in Minimum Balance Penalties in FY26, Private Lenders Lead Charge
Indian banks collected Rs 7,100 crore in minimum balance penalties during FY26, with private banks, notably HDFC Bank, contributing the most. This contrasts with ten public sector banks that have discontinued such charges, sparking debate on banking…
Delhi High Court Orders Winding Up of Paytm Payments Bank Following RBI License Revocation
The Delhi High Court has ordered the winding up of Paytm Payments Bank, following the RBI's revocation of its license due to operational and management concerns. Girikumar M Nair has been appointed as the official liquidator for the process.
RBI Advocates for Broader Access to India’s Bond Markets: A Catalyst for Economic Growth
The RBI is advocating for wider access to India's bond markets to boost financial stability and economic growth. This move aims to diversify funding, enhance liquidity, and include more investors like retail participants, making capital markets more…