Mumbai, Digital payments across the country registered a growth of 10.94 per cent in a year through March 2023, as per RBI’s index that measures the adoption of online transactions. RBI’s Digital Payments Index (RBI-DPI) stood at 418.77 at end-September 2023 compared to 377.46 in September 2022 and 395.57 in March 2023. “The RBI-DPI index …
If you have a UPI (Unified Payments Interface) account with any of the popular apps such as Google Pay, Phone Pay or Paytm, and have not been able to use it for a year or longer for any reason whatsoever, then it is set to get deactivated from Jan 1 onwards. This will be done as …
This is ten times the 2011-12 data when total amount of frauds amounted to ₹4,497 crore out of 4,091 cases. The data refer to the frauds of ₹one lakh and above. Most of these frauds in banking transactions relate to ‘advances’. Out of ₹45,598 crore, frauds related to advances are valued at ₹43,512 crore and …
ICICI Bank has recently announced the integration of its RuPay credit cards with UPI transactions in order to improve the convenience of payments for its customers. This integration allows ICICI Bank customers to effortlessly link their RuPay credit cards to UPI and make Person-to-Merchant (P2M) transactions both online and offline with ease and security. This …
UPI vs UPI Lite: United Payments Interface (UPI) and UPI Lite represent two facets of digital payment systems. UPI, a comprehensive platform, enables seamless transactions, linking multiple bank accounts, and offers a wide range of services. On the other hand, UPI Lite is a simplified version, catering to users seeking basic functionality. It’s like a …