Ratio of Currency in Use Records 14.5% of GDP
The ratio of currency in circulation as the balance of GDP reached a record of 14.5 per cent for fiscal 2020-21 amid the raised demand...
Tag : Unified Payments Interface (UPI)
PhonePe to Apply Mutual Fund Business Application
PhonePe is thinking to apply for an Asset Management Company (AMC) licence, which will allow them to sell mutual funds, Cofounder and CEO Sameer Nigam...
Airtel Payments Bank Introduces ‘Pay to Contacts’ Facility For UPI Payments
Airtel Payments Bank has launched a new feature called ‘pay to contacts’, which will allow customers to start a Unified Payments Interface (UPI) payment by...
No Automatic Recurring Payment From April 1, Directs RBI
From April 1 there will be no automatic recurring payment for various services including recharge and utility bills as RBI has made Additional Factor of...
At 740 Million, Paytm Transactions Surpass Pre-Covid Level
Digital payments major Paytm said its payments gateway business processed close to 750 million transactions a month, surpassing pre-covid levels. The pandemic has accelerated the...
Paytm-Ola-IndusInd Bank to Apply for NUE License
Ola Financial, Paytm and IndusInd Bank are planning to apply for a New Umbrella Entity (NUE) license to set up a domestic payments network similar to the National Payments Corporation of...
Flipkart Co-founder Binny Bansal To Join PhonePe’s Board Of Directors
Flipkart co-founder Binny Bansal is set to join PhonePe’s board of directors. Bansal will be joining PhonePe co-founders Sameer Nigam and Rahul Chari and Rohit Bhagat on the...
NPCI Launches AI Virtual Assistant PAI
National Payment Corporation of India (NPCI) said that it has launched an artificial intelligence (AI) based chatbot, PAi, to create awareness around its products like FASTag,...
RBI Sets Timelines for Reversal of Failed Transactions
The Reserve Bank of India (RBI) has released a framework for turnaround time (TAT) for failed transactions and compensation for customers, saying this will bring...
IRCTC Reduces Convenience Fee Charged on E-Tickets
On Tuesday, a reduction has been announced by the Indian Railway Catering and Tourism Corporation (IRCTC) in convenience fees charged from the customer for booking...