RBI proposes draft rules to regulate PoS for payment aggregators
As per the RBI release, the banking regulator has asked the payment aggregators to apply for PoS authorisation from RBI by May 31, 2025.
digital transactions
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After France, India launches UPI services in Sri Lanka and Mauritius
By connecting with UPI, both Sri Lanka and Mauritius will benefit and digital transformation will get a boost, says PM Modi.
Paytm records 912 crore merchant transactions in Q2FY24
Paytm report shows widespread adoption of Paytm-pioneered QR codes and exemplifies it by saying that if all the Paytm QR codes used this year were stacked up, it would be taller than 40 Qutub Minars
Digital transactions volume up 45% in FY23; crosses 10,998 cr in FY24 so far: FinMin
Digital transaction target for FY24 remains 18,000, of which 10,998 crore worth transactions have already been achieved, amounting to ₹2,290 lakh cr
Branch Banking: Alive, Kicking and Growing
Even as digital services expand, banks are aggressively adding branches to improve reach and enhance deposits.
Nithin Kamath attributes Zerodha’s success to govt’s tech initiatives
Growth in Indian digital transactions has been phenomenal thanks to the government, says Kamath
RuPay, UPI India’s identity in world, says PM
PM Modi says India is being called the "bright spot" of the global economy, and that the benefits of the strength of its banking system should reach maximum people.
GeM sees UPI-like surge in adoption; 100% growth to ₹1.53 lakh cr in FY23
State government orders on the platform have grown 72%- from 6.88 lakh orders in March-Jan FY22 to 11.8 lakh orders in until Feb 1, FY23.
India records 20.5 bn online transactions worth ₹36 lakh cr in Q2
In terms of merchant transactions, UPI P2M emerged as the preferred payment mode, with a market share of 34% in volume and 17% in terms of value, says the Worldline’s India Digital Payment report.
