UPI News

India’s digital payments ecosystem has witnessed impressive expansion, with transaction volumes surging 33 times and values rising by almost 3 times over the 10- year period 2016 to 2025.

RBI draft PPI guidelines Direction for Prepaid Payment Instruments Tighter norms for wallets

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The instant payments system processed 21.70 billion transactions in January 2026 alone, with Rs 28.33 lakh crore in value. UPI accounted for 81 per cent of all retail digital transactions in India.  

Transactions rose gradually in the initial years — to 915 million in FY18 and 5.39 billion in FY19 — before UPI entered the mainstream in FY20 facilitating 12.52 billion transactions worth over Rs 21 lakh crore.

Neighbourhood kirana stores remain central for routine grocery purchases and trust‑based transactions in India, even as 51 per cent of consumers reported a decline in reliance on kiranas over the past year, the report from Grant Thornton Bharat LLP.  

The disruption was not limited to a single region, with users from cities like New Delhi, Mumbai, Bengaluru, Jaipur and Pune reporting failed transactions and payment errors.

The central bank has made two-factor authentication (2FA) mandatory for all digital payments, including those made through UPI, debit and credit cards, and mobile wallets.

The central bank has made two-factor authentication (2FA) mandatory for all digital payments, including those made through UPI, debit and credit cards, and mobile wallets.

 The new rules are aimed at making online transactions safer, smarter, and less vulnerable to fraud as digital payments continue to grow rapidly in India.  

The initiative builds on existing SEBI measures, including validated UPI handles and a whitelist of stockbrokers' mobile applications maintained by exchanges. 

Wednesday, March 25, is effectively your last clear opportunity to visit a branch before the extended break begins.

This update allows users to approve transactions of up to Rs 5,000 using their smartphone’s fingerprint or facial recognition, making payments faster and more convenient.  

This will happen via the postal network by integrating the Universal Postal Union (UPU) PosTransfer system with India’s Unified Payments Interface (UPI).   

As per the Reserve Bank of India’s holiday calendar, bank holidays in India vary depending on state-specific festivals and notifications, meaning some branches remain open while others are shut.  

In a written reply to separate questions in the Lok Sabha, Sitharaman said the total volume of retail digital payment transactions increased from 7,176.9 crore in FY22 to 22,167.9 crore in FY25.

HDFC Bank has announced several updates to its rules to improve customer service. 

Unified Payment Interface (UPI) has expanded its services to include ATM cash withdrawals. Users can withdraw cash from ATMs via UPI apps.

The report from Interest.co.nz said it offers a template for developing countries in Asia, Africa and Latin America to achieve rapid digital‑payments growth without dependence on multinational corporations.  

The study also finds that 90 per cent of users reported increased confidence in digital payments after using UPI and RuPay cards, accompanied by a marked decline in cash usage and ATM withdrawals.

Moreover, the government has signed MoUs/agreements with 23 countries for sharing or cooperation on India Stack/Digital Public Infrastructure (DPI), primarily for replication and adoption of India’s digital governance platforms, Minister of State for Electronics and IT, Jitin Prasada, said in Rajya Sabha.

Indian merchants face rising UPI and identity fraud, requiring strict transaction verification, updated KYC, and immediate reporting to official portals.