This Diwali, India’s Unified Payments Interface (UPI) hit a new milestone with record transactions worth Rs 1.02 lakh crore in a single day. October saw an average of 695 million daily UPI transactions, up 6% from September. Festive spending combined with lower GST rates boosted digital payments across e-commerce and retail, reflecting the growing adoption of cashless transactions nationwide.

Diwali Sparks Record Rs 1.02 Lakh Crore UPI Transactions | Digital Payments Soar

The National Payments Corporation of India (NPCI) has raised the UPI limit for Person-to-Merchant (P2M) transactions to ₹10 lakh per day for select verified categories, effective from September 15. This move aims to simplify high-value digital transactions for Indian users. The UPI limit for Person-to-Person (P2P) transfers remains unchanged at ₹1 lakh per day. Find out who qualifies for the new limit and how it impacts merchants and consumers alike.

UPI new rules: Transaction limit now ₹10 lakh | Big boost for business & payments

The primary change under this new reform will significantly reduce the time taken for payment completion, from 30 seconds earlier to around 15 seconds now.

PhonePe, Google Pay, and Paytm transactions to become faster, NPCI rolls out key UPI upgrade

India appeared to be the next great market for tech firms. However, at the moment, top firms in the nation are fighting for survival, and investors are turning a blind eye to the next generation of entrepreneurs.

Byju's & Paytm's troubles weigh on tech future

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Paytm’s stock price has plummeted 61% in just the past six months, making it the second-worst performer in a global index that tracks major corporations.

Paytm shares drop 61% in six months, second-worst globally

Paytm is undergoing a leadership reshuffle following the resignation of chief operating officer Bhavesh Gupta for personal reasons. Gupta, who oversaw the payments and lending businesses, will transition to an advisory role until the end of 2024. Watch in for more details!

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The National Payments Corporation of India grants Paytm a third-party application provider licence, which will allow users to conduct UPI transactions via its app.

Paytm gets a lifeline, users safe

Paytm secures third-party app license to sustain UPI payments: Report

The Indian digital payments giant Paytm has secured a crucial lifeline the National Payments Corporation of India has granted Paytm a third-party application provider license. Well, this means that Paytm users can breathe a sigh of relief.

Paytm users can still use the app after banking the shutdown

From March 15, Paytm users will not be able to use their Paytm Payment Bank accounts, wallet and Fastags. Paytm Fastag holders have been advised to switch to another bank account.

Gravitas | Alert for Paytm users: it's time to change your Fastag

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Paytm addresses workforce reduction speculations amid regulatory scrutiny

Paytm Payments Bank of India hit with $662,000 fine amid allegations of money laundering

Paytm and its banking unit undergo major changes to comply with RBI's directives, impacting leadership and operational dynamics. The move aims to regain investor and regulatory confidence. Watch in for more details!

Paytm cuts ties with payments bank unit amid RBI regulatory crackdown

India's Paytm and its payments bank agree to discontinue inter-company deals

Paytm is facing a major shakeup. CEO Vijay Shekhar Sharma has stepped down from the board of the company's Payments Bank unit, which the Reserve Bank of India has ordered to shut down by March 15th. While, Sharma remains ceo of Paytm itself, the company is scrambling to find new banking partners to maintain its crucial upi payment services.

Paytm overhauls banking board, CEO Vijay Shekhar Sharma resigns from Payments Bank Board

Paytm CEO Vijay Shekhar Sharma steps down from payments bank board amid crisis

India's central bank has asked the country's payments authority to examine digital payments firm Paytm's request to become a third-party payment app. If the request is approved, Paytm could continue processing payments via India's popular unified payments interface or UPI.

Decoding Paytm's latest request to RBI

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