India contributing to global growth in financial inclusion: World Bank report
6 years, 11 months ago

India contributing to global growth in financial inclusion: World Bank report

ABP News  

20 : The Global Findex Report, 2017 released by the World Bank on Friday gives India more than one reason to cheer, as it notes the rapid increase in financial inclusion that has taken place in the country. In what can be seen as an answer to apprehensions raised earlier by some critics on usage of digital payments in India, the report states that 36 percent of account owners in India are already using their accounts to make or receive digital payments. Other potential target groups identified in the report to increase digital payments are adults in India who have an account and a mobile phone. This heartening review of India's financial inclusion and digital payment initiatives by the Global Findex Report, 2017 and the identification of potential waiting to be unlockedgives further impetus to the Government's ongoing efforts for financial inclusion.

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History of this topic

Fin inclusion not just opening accounts, engagement is key: RBI Dy. Gov. Rao
1 month ago

Fin inclusion not just opening accounts, engagement is key: RBI Dy. Gov. Rao

New Indian Express  

MUMBAI: There have been some concerns about excessive borrowing in unsecured segment and from derivative euphoria in the capital markets of late, says M Rajeshwar Rao, deputy governor, Reserve Bank of India. “However, true financial inclusion goes beyond merely having a bank account—it requires meaningful engagement with financial services,” he said, adding a bank account should serve as an entry …

Financial inclusion not just opening accounts; engagement key: RBI Deputy Governor Rao
1 month ago

Financial inclusion not just opening accounts; engagement key: RBI Deputy Governor Rao

New Indian Express  

MUMBAI: Of late there has been some concerns of excessive borrowing in unsecured segment and from derivative euphoria in the capital markets, Rao said Though as much as 80% of the adult population have bank accounts now, thanks to the Jan Dhan Yojana or no-frills accounts, meaningful use of these accounts remains a challenge, rues Reserve Bank deputy governor M …

Payments banks are pioneering digital financial inclusion: Airtel Payments Bank’s Biswas
2 months, 1 week ago

Payments banks are pioneering digital financial inclusion: Airtel Payments Bank’s Biswas

Live Mint  

Payments banks in India have encouraged digital financial inclusion and helped small finance banks to grow, Anubrata Biswas, managing director and chief executive of Airtel Payments Bank, said. Payments banks today touch 250 million users every month, while the small finance bank industry touches 20 million consumers who wouldn't have got credit from the traditional banks. “This $10 billion cannot …

PM Modi shares key highlights of Indias transformative achievements in 2024 | Check details
2 months, 3 weeks ago

PM Modi shares key highlights of Indias transformative achievements in 2024 | Check details

India TV News  

Prime Minister Narendra Modi, in a series of tweets marking the end of 2024, reflected on the significant strides made by India in various sectors over the past year. Rural development and empowerment Since the onset of Modi’s government in 2014, a key focus has been improving the lives of people in rural India. With 4G connectivity reaching over 6 …

UPI achieves record 15,000 crore transactions worth ₹223 Lakh Crore by Nov 2024
3 months, 1 week ago

UPI achieves record 15,000 crore transactions worth ₹223 Lakh Crore by Nov 2024

Hindustan Times  

The Finance Ministry said on Saturday that from January to November of this year, 15,547 crore transactions of ₹223 lakh crore were handled through the Unified Payments Interface. From January to November of this year, 15,547 crore transactions of ₹ 223 lakh crore were made over the Unified Payments Interface, "demonstrating its transformative impact on financial transactions" in India.) The …

Credit Score: How is increased awareness driving financial inclusion beyond metros
3 months, 1 week ago

Credit Score: How is increased awareness driving financial inclusion beyond metros

Live Mint  

Imagine this – Over 119 million Indians are actively monitoring their credit scores, with a majority emerging from rural and semi-urban areas. Technology is dismantling traditional barriers to financial inclusion, and the importance of maintaining a good credit score is becoming an integral part of financial planning for individuals in non-metro regions. A new financial awakening in non-metros The awareness …

’India’s success with UPI offers replicable model for other nations’
3 months, 2 weeks ago

’India’s success with UPI offers replicable model for other nations’

Live Mint  

New Delhi, December 7 : India's success with UPI offers a replicable model for other nations, a paper written by noted experts asserted, arguing that how this indigenous fintech solution combined public digital infrastructure with open banking policies to reduce financial exclusion, foster innovation, and promote equitable economic growth. In regions with high UPI adoption, loans to new-to-credit borrowers grew …

FM Sitharaman urges regional rural banks to onboard customers to digital services like mobile banking by Dec 2024
3 months, 3 weeks ago

FM Sitharaman urges regional rural banks to onboard customers to digital services like mobile banking by Dec 2024

Live Mint  

New Delhi, November 30 : Union Finance Minister Nirmala Sitharaman has urged Regional Rural Banks to onboard rural customers to digital services such as Internet Banking, Mobile Banking, and UPI. In the meeting, Sitharaman directed the RRBs to prioritize onboarding customers for digital services and set a deadline to complete this task by December 2024. "RRBs to prioritize onboarding customers …

Cyber-Secure India: A Collective Effort to Protect Citizens from Digital Crimes
4 months, 3 weeks ago

Cyber-Secure India: A Collective Effort to Protect Citizens from Digital Crimes

Hindustan Times  

Cybersecurity is a top priority for the Indian government, with the country witnessing a surge in digital connectivity and a corresponding rise in cybercrimes. However, authorities have been proactive in safeguarding citizens from these threats, disconnecting fraudulent mobile connections and blocking over ₹2,400 crore in suspicious transactions. The government has also launched an indigenously developed International Incoming Spoofed Calls Prevention …

UPI transactions increasing in small towns in India but THIS age group still uses wallet, card
8 months, 2 weeks ago

UPI transactions increasing in small towns in India but THIS age group still uses wallet, card

India TV News  

A new report revealed that approximately 65 percent of transactions by consumers in small-town India are now digital, while in larger cities, this ratio is around 75 percent. The report, conducted by Kearney India and Amazon Pay India, highlights the leading role of India's millennials and Gen X in spearheading the digital payment revolution. Shashwat Sharma, Partner and Financial Services …

Banks rely on AI as digital transactions grow, and methodology of frauds evolves
10 months, 2 weeks ago

Banks rely on AI as digital transactions grow, and methodology of frauds evolves

Hindustan Times  

India’s digital transactions continue to see rapid growth, and that translates to big volumes. On April 24, the Reserve Bank of India barred Kotak Bank from issuing new credit cards for now, due to “the absence of a robust IT infrastructure and IT Risk Management framework.” It draws on a mix of factors, including reliability of the bank’s infrastructure alongside …

India plans to curb Google, PhonePe’s dominance in mobile payments: Report
11 months, 1 week ago

India plans to curb Google, PhonePe’s dominance in mobile payments: Report

The Hindu  

India’s governing body overseeing the country’s Unified Payments Interface mobile payments system is set to engage with fintech startups to develop a strategy to address the growing market dominance of companies including PhonePe and Google pay in the UPI ecosystem. The National Payments Corporation of India plans to meet executives from companies including CRED, Flipkart, Fampay, and Amazon to discuss …

The impact of technology on finance: Enhancing experiences and safety
11 months, 2 weeks ago

The impact of technology on finance: Enhancing experiences and safety

Hindustan Times  

The proliferation of financial technology and digital banking services has revolutionised the financial landscape, making access to finance more convenient and inclusive. The prominence of fintech platforms and the increasing digitalisation of banks have democratised financial services, expanding access beyond metropolitan cities. There is a significant increase in instances of fraudsters posing as employees of fintech platforms, attempting to obtain …

Financial inclusion can reduce gender gaps in India
11 months, 2 weeks ago

Financial inclusion can reduce gender gaps in India

Hindustan Times  

Surpassing the United Kingdom and France, India has become the world’s fifth largest economy. PREMIUM Gender Equality {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} Financial inclusion plays a crucial role in advancing the economic empowerment of women, which is a key objective outlined in the fifth Sustainable Development Goal concerning gender equality. Despite the country’s initiatives aimed at enhancing financial inclusion, significant disparities …

Boosting Jan Dhan account activity: Strategy for enhanced financial inclusion
1 year, 1 month ago

Boosting Jan Dhan account activity: Strategy for enhanced financial inclusion

Live Mint  

Financial inclusion in India has traditionally been equated with the expansion of banking networks and the proliferation of bank accounts among the underserved. The Global Findex data from 2021 provides an insightful snapshot into India's evolving financial inclusion landscape, marked by significant digital adoption and changing saving and borrowing behaviors. According to Findex, India experienced a slight percentage decline in …

Pandemic to Prosperity: Finance Ministry's Report Says India's Digital Infra Empowers Citizens, Fuels Growth
1 year, 1 month ago

Pandemic to Prosperity: Finance Ministry's Report Says India's Digital Infra Empowers Citizens, Fuels Growth

News 18  

The Ministry of Finance’s recently released report, ‘The Indian Economy – A Review’, has lauded India’s digital transformation, highlighting the success of the Digital Public Infrastructure and its significant role in delivering services with a citizen-centric focus. The report noted that as the pandemic disrupted economic activities, the government responded swiftly, leveraging the strength of digital public infrastructure, commonly known …

CoWIN Breach, Apple Alerts: What Was It Like Living in Digital India in 2023?
1 year, 2 months ago

CoWIN Breach, Apple Alerts: What Was It Like Living in Digital India in 2023?

The Quint  

Flip-flop on laptop, tablet imports: Initially, the central government placed imports of laptops, tablets, all-in-one personal computers, and ultra-small form factor computers, and servers under the ‘restricted’ category, making their imports permissible only under a valid licence. Apple retail stores in India: In April, CEO Tim Cook made his way to India to launch the first Apple retail stores in …

India's UPI leads the way in global non-cash transaction boom
1 year, 6 months ago

India's UPI leads the way in global non-cash transaction boom

India TV News  

India's UPI leads the way in global non-cash transaction boom In August, UPI-based payments in India achieved a milestone by surpassing 10 billion monthly transactions for the first time, as reported by the National Payments Corporation of India. According to IANS, the report pointed out that in 2022, UPI payments in India were more popular than credit and debit card …

World Bank Praises India's Digital Public Infrastructures
1 year, 6 months ago

World Bank Praises India's Digital Public Infrastructures

Deccan Chronicle  

New Delhi: Lauding India’s Digital Public Infrastructures approach, the World Bank has stated that India has achieved in just six years under the Narendra Modi-led government what would have otherwise taken about five decades. "In just six years, India has catapulted its financial inclusion rate from 25 per cent in 2008 to over 80 per cent of adults, according to …

'Five decade journey in 6 years': World Bank lauds India's Digital Payments Infrastructure
1 year, 6 months ago

'Five decade journey in 6 years': World Bank lauds India's Digital Payments Infrastructure

Op India  

On Friday, September 8, the World Bank heaped praises on India’s Digital Payments Infrastructure in view of its transformative impact on India under the Narendra Modi government. Excerpt from World Bank’s G20 GFPI document UPI- India’s popular retail digital payment option Moreover, the document stated that the Unified Payments Interface is India’s mobile-based quick payment system that allows users to …

G20: World Bank Lauds India's Transformative Impact Of Digital Public Infra
1 year, 6 months ago

G20: World Bank Lauds India's Transformative Impact Of Digital Public Infra

ABP News  

The World Bank has praised India's transformative impact of Digital Public Infrastructures in the past decade under the Narendra Modi-led government. Prime Minister Narendra Modi on Friday tweeted about the World Bank’s G20 document where the global agency lauded India’s leap in financial inclusion. This monumental leap shortened the journey towards financial inclusion by up to 47 years, a feat …

G20 Summit: 5 Charts on How India Got Almost Half a Billion People Into the Banking System
1 year, 6 months ago

G20 Summit: 5 Charts on How India Got Almost Half a Billion People Into the Banking System

News 18  

In his maiden Independence Day speech as Prime Minister on August 15, 2014, Narendra Modi broke convention by speaking extempore for 65 minutes. As the International Monetary Fund noted in a 2021 working paper, the excitement accrued from the fact that the introduction and expansion of the Jan-Dhan Yojana “coincided with a period of rapid increase in financial access, in …

G20: ‘India has done in 6 years what would take 50’: World Bank lauds India’s digital public infrastructure
1 year, 6 months ago

G20: ‘India has done in 6 years what would take 50’: World Bank lauds India’s digital public infrastructure

Firstpost  

India has developed some of the finest digital public goods infrastructure which could change lives the world over. Lauding India’s Digital Public Infrastructure, the World Bank has said that what the country has achieved in just six years would have otherwise taken about five decades. Highlighted the key measures taken by the Modi government in shaping the Digital Public Infrastructure …

World Bank lauds India's digital infra impact: 'Five-decade journey in 6 years'
1 year, 6 months ago

World Bank lauds India's digital infra impact: 'Five-decade journey in 6 years'

Hindustan Times  

The World Bank has lauded the transformative impact of Digital Public Infrastructures in India in the past decade under the Narendra Modi-led government. The document, prepared by the World Bank as part of the G20 Global Partnership for Financial Inclusion, highlighted the measures taken by the Modi government and the pivotal role of government policy and regulation in shaping the …

'Five decades journey in just six years...': World Bank applauds India, PM Modi acknowledges it
1 year, 6 months ago

'Five decades journey in just six years...': World Bank applauds India, PM Modi acknowledges it

India TV News  

The World Bank stated that India's digital public infrastructure has had a profound impact that goes well beyond financial inclusion. The World Bank's praises come as India has developed some of the best digital public goods infrastructure, which has the potential to transform lives all across the world. World Bank document hails Indian govt's policy The World Bank document, prepared …

G20 could pave way for crypto regulation, financial inclusion push
1 year, 6 months ago

G20 could pave way for crypto regulation, financial inclusion push

The Hindu  

India’s G20 presidency could leave a lasting legacy for the world’s financial architecture by paving the way for a global template to regulate crypto assets, steering a shake-up of multilateral development banks that could yield additional financing of $200 billion over eight years to help countries deal with emerging challenges, and advancing financial inclusion. India has brought the regulation of …

Jan Dhan Yojana revolutionised financial inclusion in India, more than 50 cr bank a/cs opened: FM
1 year, 6 months ago

Jan Dhan Yojana revolutionised financial inclusion in India, more than 50 cr bank a/cs opened: FM

The Hindu  

Finance Minister Nirmala Sitharaman on August 28 said Jan Dhan Yojana-led interventions and digital transformation have revolutionised financial inclusion in the country, as more than 50 crore people have been brought into the formal banking system with cumulative deposits surpassing ₹2 lakh crore. On the ninth anniversary of the Pradhan Mantri Jan Dhan Yojana, which is one of the biggest …

India ranks first in digital payments made globally: Report
1 year, 7 months ago

India ranks first in digital payments made globally: Report

Deccan Chronicle  

Hyderabad: Online banking and the shift to a cashless society started approximately three decades ago in India. This year, 91 billion digital payment transactions have been recorded and today India ranks first in the number of digital payments made globally. Backbase on Wednesday released the IDC Infobrief titled ‘Accelerating customer-centric transformation by balancing build and buy - A collaborative approach …

PM Modi urges G20 nations to push for secure digital future
1 year, 7 months ago

PM Modi urges G20 nations to push for secure digital future

Hindustan Times  

Prime Minister Narendra Modi urged G20 countries on Saturday to focus on technology that can “lay the foundations for an inclusive, prosperous and secure” global digital future, as he addressed a ministerial gathering on digital economy in Bengaluru. Prime Minister Narendra Modi addresses the G20 Digital Economy Ministers' meeting in Bengaluru. Union minister for electronics and information technology, Ashwini Vaishnaw, …

Technology has placed women’s financial inclusion within reach
1 year, 8 months ago

Technology has placed women’s financial inclusion within reach

Live Mint  

In a rapidly evolving digital landscape, with technology reshaping industries and societies, digital public infrastructure has emerged as a catalyst for financial inclusion. While digital financial inclusion is vital, gender disparities still exist in women’s access to digital financial services and their comprehensive utilization. The G20 High-Level Principles for Digital Financial Inclusion and the report on Advancing Women’s Digital Financial …

Apple Pay set to launch in India, talks underway with NPCI: All details here
1 year, 9 months ago

Apple Pay set to launch in India, talks underway with NPCI: All details here

India TV News  

Apple is reportedly in discussions with the National Payments Corporation of India to bring Apple Pay to the country. According to IANS, iPhone users in India may soon be able to scan QR codes and make payments through the unified payments interface using Apple Pay, similar to other popular digital payment apps. Apple Pay provides a convenient, secure, and private …

Mobile wallets market in India to surpass $5 trillion in 2027, says GlobalData
1 year, 10 months ago

Mobile wallets market in India to surpass $5 trillion in 2027, says GlobalData

Live Mint  

The usage of mobile wallets is growing at a rapid pace and is gradually displacing traditional payments such as cash and cards, according to a report by GlobalData. According to the report, payments through mobile wallets are anticipated to grow at a compound annual growth rate of 23.9% between 2023 and 2027 and reach ₹472.6 trillion in 2027, said GlobalData, …

UPI And Aadhaar-Enabled Payment Most Used Banking Services By MSMEs: Report
1 year, 10 months ago

UPI And Aadhaar-Enabled Payment Most Used Banking Services By MSMEs: Report

News 18  

The MSME sector in India is on an ambitious growth curve and in recent years, there has been a progressive change in the mindsets of small business owners towards technology adoption. In a new study, PayNearby, the digital financial services network, said that more than 71% Micro, Small and Medium Enterprises in retail, use some form of digital technology for …

Open banking is helping revolutionize access to credit
1 year, 10 months ago

Open banking is helping revolutionize access to credit

Live Mint  

Despite India’s micro, small and medium enterprises contributing about a third of the country’s gross domestic product and employing over 110 million people, they struggle to access and afford credit. For instance, let us look at the sustained efforts to boost the adoption of the Account Aggregator network—the independent entity that facilitates secure and consent-based financial data-sharing between customers and …

IMF report hails India's digital infrastructure as a model for other nations to follow
1 year, 11 months ago

IMF report hails India's digital infrastructure as a model for other nations to follow

India TV News  

The International Monetary Fund, in its working paper, has said that India's creation of a world-class digital public infrastructure serves as an example for other countries going through digital transformation. The report "Stacking Up the Advantages: Lessons from India's Digital Journey " stated that the success of India's digital public infrastructure is attributed to the country's building block strategy and …

India to bridge digital divide
2 years ago

India to bridge digital divide

Deccan Chronicle  

HYDERABAD: India, heading the G20 this year, said that nations shifting to digital financial transactions should ensure inclusion of those who may not be fully ready to reap the benefits. Addressing the G20 working group on knowledge and experience sharing for emerging economies of the global south on financial inclusion which started in the city on Saturday, Harsh Vardhan Shringla, …

\'Offer to share UPI platform a goodwill gesture\'
2 years ago

\'Offer to share UPI platform a goodwill gesture\'

Deccan Chronicle  

HYDERABAD: An important three-day meeting of G20 that will focus on knowledge and experience sharing for emerging economies of the global south will begin in the city on Saturday, with India set to reaffirm its commitment to share its experience, knowledge, and expertise on the country’s United Payments Interface architecture. He said the robustness of the Indian UPI system meant …

Digital payments ecosystem transformed governance, financial inclusion in India: PM Modi at G20 meeting
2 years, 1 month ago

Digital payments ecosystem transformed governance, financial inclusion in India: PM Modi at G20 meeting

India Today  

India’s digital payments ecosystem has radically transformed governance and financial inclusion over the past few years, said Prime Minister Narendra Modi while addressing the G20 Finance Ministers' and Central Bank Governors' Meeting. Our digital payments ecosystem has radically transformed governance, financial inclusion and ease of living,” said PM Modi. READ | Budget 2023 will make India leading player in global …

India remains a ‘bright spot’, to contribute 15% of global growth in 2023: IMF MD
2 years, 1 month ago

India remains a ‘bright spot’, to contribute 15% of global growth in 2023: IMF MD

The Hindu  

India continues to remain a relative "bright spot" in the world economy, and will alone contribute 15% of the global growth in 2023, International Monetary Fund Managing Director Kristalina Georgieva said. And in that way, India is providing about 15% of global growth in 2023," Ms. Georgieva told PTI in an interview. India remains a bright spot at a time …

Digital transactions to soon exceed cash in India: PM Modi
2 years, 1 month ago

Digital transactions to soon exceed cash in India: PM Modi

Deccan Chronicle  

New Delhi: As people take to India’s real-time payment mechanism, the Unified Payments Interface, Prime Minister Narendra Modi on Tuesday expressed hope that digital transactions will soon surpass cash payments in the country. Besides, the linkage will also help migrant workers, professionals, students and their families as well," Mr Modi said, while launching the service at a virtual event through …

India records more digital payments than US, UK, Germany & France: Vaishnaw
2 years, 2 months ago

India records more digital payments than US, UK, Germany & France: Vaishnaw

Hindustan Times  

Union minister Ashwini Vaishnaw on Friday said India's digital payments transactions last year exceeded those of the combined digital payments of United States, United Kingdom, Germany and France, ANI reported. "In December 2022, the digital payments transactions amounted to $1.5 trillion annualised basis. If you compare total digital transactions in US, UK, Germany and France and combine them, India's figures …

India great example of how financial inclusion can work: German envoy Manfred Auster at G20 meeting in Kolkata
2 years, 2 months ago

India great example of how financial inclusion can work: German envoy Manfred Auster at G20 meeting in Kolkata

The Hindu  

India is a great example of how to bring about financial inclusion and it needs to share this experience with the world at large, a German diplomat, who was a part of the delegation at a recent G20 meeting in Kolkata, said. Explained | All about the G20: History of the forum and India’s presidency "India is a great example …

Time is right for a digital rupee
2 years, 3 months ago

Time is right for a digital rupee

Hindustan Times  

Starting this month, the Reserve Bank of India will begin a pilot project that will put a digital rupee, or e ₹, in the hands of individuals. In simple terms, a CBDC is the closest virtual equivalent of cash with the liability for its value resting directly with the central bank, instead of — as is the case at present …

Fintech 2.0 in 2023: Can India unlock next level
2 years, 4 months ago

Fintech 2.0 in 2023: Can India unlock next level

Firstpost  

The FinTech industry has grown exponentially, and the wave of changes brought in by fintech has profoundly impacted financial inclusion and penetration. It has also been beneficial since a country like India caters to a large population, so it requires advanced technology FinTech has become such an integral part of the financial services ecosystem over the past few years, that …

Shift from phone banking to digital banking put India on sustained growth path: PM
2 years, 5 months ago

Shift from phone banking to digital banking put India on sustained growth path: PM

Deccan Chronicle  

New Delhi: Prime Minister Narendra Modi on Sunday attributed India's sustained economic growth to the efforts of the BJP government to replace pre-2014 'phone banking' with 'digital banking'. The economic progress of a country is directly linked to the strength of its banking system, he said after dedicating 75 Digital Banking Units to the nation. The banking sector has become …

India will come out of current global turmoil, move on path of sustained growth: FM
2 years, 5 months ago

India will come out of current global turmoil, move on path of sustained growth: FM

Deccan Chronicle  

WASHINGTON: Finance Minister Nirmala Sitharaman has exuded confidence that India will come out of the current global turmoil and move on the path of sustained recovery on the back of rapid digitisation and steps taken by the government. She said India has been able to set up a global benchmark in digitisation in areas of payment, healthcare, education and regulatory …

There Is A Fintech Revolution Happening In India, And These Are The Factors Driving The Industry
2 years, 5 months ago

There Is A Fintech Revolution Happening In India, And These Are The Factors Driving The Industry

ABP News  

India has the highest adoption rate of any country in the world when it comes to financial technology, and this has ushered in a new age for the sector. Fintech's meteoric rise can be attributed to a confluence of factors, including technological advancements, altering social mores, and a regulatory climate that encourages innovation. The India stack and other forms of …

India Now Stands In League Of US, UK, Singapore In Global Financial Sector: PM Modi In Gandhinagar
2 years, 7 months ago

India Now Stands In League Of US, UK, Singapore In Global Financial Sector: PM Modi In Gandhinagar

ABP News  

Prime Minister Narendra Modi on Thursday said that India now stands in league of countries such as United States of America, United Kingdom and Singapore where new trends in global financial sector are shaped. Today India alone has 40 per cent share in real-time digital payments all over the world," PM Modi said. https://t.co/I5arK3N000 — Narendra Modi July 29, 2022 …

We are well placed to let fintech lead the success of Digital India
2 years, 7 months ago

We are well placed to let fintech lead the success of Digital India

Live Mint  

From a 6.6% contraction in 2020-21, the Indian economy recorded a sharp rebound of 8.7% growth in 2021-22, by provisional estimates. The Niti Aayog report, India’s Booming Gig and Platform Economy, has underscored the role of fintech and a regulatory sandbox regime in helping India achieve its $5 trillion target. Broadly, the fintech sector is regulated under five regulations: the …

UPI: the dawn of digital fintech nirvana
2 years, 8 months ago

UPI: the dawn of digital fintech nirvana

The Hindu  

If you own a smartphone, you have most probably done UPI-based payments using BHIM or some other mobile application. Secondly, a Payment Service Provider takes care of the to-and-fro transactions to this VPA and finally, the UPI software orchestrates the fund movement from a customer’s VPA to a target VPA and completes the transaction. A ubiquitous payment system The popularity …

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