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UPI: A DECADE OF INDIA’S DIGITAL PAYMENTS REVOLUTION Why in the News? The Unified Payments Interface (UPI) completed 10 years on 25 August 2026, marking a major milestone in India’s Digital Public Infrastructure (DPI). From 1.78 crore transactions in 2016-17, annual UPI transaction volume has risen to over 24,162 crore transactions in 2025-26, alongside rapid …
Read MoreKeep UPI Free By Sharing Its Public Savings Syllabus: GS-2: Government Policies & Interventions GS-3: E-Governance, Growth & Development, Inclusive Growth, IT & Computers, Infrastructure Why in the News ? The Taxation and Other Laws (Amendment) Act, 2026 has amended Section 10A of the Payment and Settlement Systems Act, which had barred charges on BHIM-UPI …
Read MoreWhy in the News ? NPCI BHIM Services Ltd. (NBSL) launched BHIM 3.0 with enhanced features, including bill splitting, family expense tracking, and assigned payments. The rollout will be phased, with full availability expected by April 2025, improving digital payment convenience and security. New Features and Enhancements: NPCI BHIM Services Ltd. (NBSL), a subsidiary of …
Read MoreWhy in the news? The Reserve Bank of India joined Project Nexus to enable instant cross-border retail payments by interlinking domestic Fast Payments Systems. The initiative aims to connect the FPSs of India, Malaysia, the Philippines, Singapore, and Thailand, enhancing cross-border payments.p source:scribd About Project Nexus: Purpose: Nexus connects multiple national payment systems into a …
Read MoreWhy in the news? RBI proposes a platform for network-level intelligence and real-time data sharing to curb digital payment frauds. RBI plans to include recurring payments like Fastag and National Common Mobility Card (NCMC) in the e-mandate framework. To promote quick small-value payments through an on-device wallet, RBI proposes bringing UPI Lite under the e-mandate …
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