According to estimates, UPI was used to make 65 per cent of digital payments in India. It processed 1,200 crore transactions ...

NPCI reports UPI servers down, causing transaction failures; working to resolve issue, impacting over 2,000 users.

COVID-19 was the biggest test for the Indian banking sector as it exacerbated pre-existing challenges. The sector was already burdened with substantial bad loans, and the pandemic further pushed ...

India Fintech Foundation (IFF) was officially launched at Startup Mahakumbh as a proposed self-regulatory organization for ...

Here’s a quick timeline: In July 2021, RBI officially announced it was exploring a Digital Rupee. By February 2022, Finance Minister Nirmala Sitharaman confirmed that CBDC would be introduced in ...

The International Monetary Fund (IMF) proposed a framework called “REDI” to deploy CBDCs and steps to promote the adoption of CBDCs. The international financial agency emphasised that raising ...

It is important to note that bank holidays differ from state to state. The RBI has categorized holidays based on regional festivals and observances, and the complete list is available on its ...

Upon reviewing HDFC Bank’s response and additional submissions, RBI identified two critical areas of non-compliance: Risk categorisation failure: The bank failed to categorise certain customers ...

Built like crypto but regulated by the RBI, India's eRupee CBDC is currently under its advanced trial phase. The country’s apex bank, at this point, is looking at the eRupee to become a tool to ...

By keeping banks open, the RBI aims to prevent potential financial discrepancies and ensure accurate recording of all fiscal operations within the FY25 period. The mandate will enable a ...

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Speaking about the eRupee CBDC, RBI Governer Shaktikanta Das emphasised that it plays a key role in India's "world-class digital public infrastructure" (DPI), which has enabled the creation of ...