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On March 14, NPCI approved a third party application (TPAP) provider permit for Paytm in collaboration with SBI, Axis Bank, Yes Bank and HDFC bank for continuity of UPI transactions for the company's users.
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Axis Bank, HDFC Bank, State Bank of India, and YES Bank will act as Payment System Provider (PSP) banks to Paytm.
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DPIs Impacting 97% of India's Population, Benefitting 1.3 Billion Citizens with Mass Adoption and Economic Impact
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As per a January 31 order of the RBI, Paytm Payments Bank was asked to stop further deposits, credit transactions, or top-ups in any customer accounts, prepaid instruments, wallets, FASTags, and National Common Mobility Cards, after February 29
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He referred to the action as an excellent illustration of promoting digital payments and enhancing connections.
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In the afternoon, French President Macron is scheduled to arrive in Jaipur, the capital of Rajasthan, and then proceed to Amber Fort.
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Following the meeting, the Finance Ministry, in a late Thursday night post, stated that Wickremesinghe acknowledged India's multi-faceted support to Sri Lanka during the economic crisis.
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Shambaugh said several initiatives are already underway to upgrade legacy payment systems
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UPI-based transactions reached 9.3 billion in June 2023 from 151 million in January 2018, primarily driven by the growth in P2M transactions.
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It is the first public sector bank to launch UPI ATMs, in coordination with the National Payments Corporation of India (NPCI) and powered by NCR Corporation, BoB said in a statement.
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RBI’s decision to expand e-rupee is an acknowledgement of the rapid pace of adoption of digital payment methods
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The NPCI on Wednesday launched a slew of new payment options on popular payments platform UPI, including conversational transactions.
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This would be a 10-time growth over the 10 billion transactions achieved by the 2016-launched platform in August
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In April, the RBI proposed to expand the scope of the UPI by enabling transfer to/from pre-sanctioned credit lines at banks
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State Bank of India (SBI) on Monday said it has implemented UPI interoperability in its digital rupee, called Central Bank Digital Currency
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The National Payments Corporation of India (NPCI) confirmed on Thursday that the monthly transaction count on UPI has surpassed 10.24 billion, accompanied by a net transaction value of Rs 15.18 trillion.
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He made the remarks at the B20 summit here, while noting that India turning into one mega economy is going to be the trend for the next 20 years.
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The statistical development of digital payments has increased in India as well as worldwide.
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In 2018, the volume of UPI transactions was 374.63 crore, a figure that surged by 1,876 percent to reach 7,403.97 crore in 2022.
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Reserve Bank of India Governor Shaktikanta Das on Friday pitched for a global debt data-sharing platform as part of the solution