UPI recorded over 20 billion transactions in August for the first time, marking 34 per cent annual growth. Daily transactions averaged 645 million, with Maharashtra leading in digital payments, highlighting India’s rising adoption of cashless transactions, according to NPCI and SBI data.
Currently, the transaction limit for UPI stands at ₹1 lakh for both person-to-person (P2P) and person-to-merchant (P2M) payments. However, certain P2M transactions are allowed higher limits, with some capped at ₹2 lakh and others at ₹5 lakh, depending on the use case.
Swiggy announced that users can now complete UPI transactions directly within the app, streamlining the payment process from five steps to just one. Anurag Panganamamula, Head of Revenue and Growth at Swiggy, stated, “This feature supports our mission to offer unmatched convenience, as UPI becomes a preferred payment method.”
The NHAI's mandate is aimed at making collection process easy at toll plazas and curbing misuse of FASTags as part of the 'One vehicle, One FASTag' initiative.
Covering 5,314 households across 25 states with a sample designed to represent states and households across the income spectrum, the survey was aimed at understanding the awareness, adoption and use behaviour
Mumbai: The country’s largest lender State Bank of India is actively looking to hive off its digital platform Yono into a separate subsidiary, its chairman Rajnish Kumar said. Yono or You Only Need One App is the lender’s integrated banking platform. “We are in discussions with all our partners to hive it (Yono) off as […]