NATIONAL PAYMENT CORPORATION OF INDIA
RBI penalizes PNB, four other banks for regulatory non-compliance in first week of July The Reserve Bank of India (RBI) has penalized five banks, including Punjab National Bank (PNB), for non-compliance with RBI directions. PNB became the fifth bank to be penalized, with a penalty of Rs 1.31 crore. The penalty was imposed for non-compl...
06 Jul, 2024, 10.35 AM ISTNew credit card rules: HDFC Bank, Axis Bank, other banks customers cannot make credit card bill payments using PhonePe, Paytm Credit card bill payment rules: As of July 1, customers with credit cards from major banks like HDFC Bank and Axis Bank will no longer be able to settle their credit card bills using third-party applications such as PhonePe, Amazon Pay, and Paytm.
04 Jul, 2024, 03.57 PM ISTRBI, ASEAN countries to create instant cross-border retail payments platform The Reserve Bank of India and ASEAN nations are collaborating on "Project Nexus," aimed at establishing a platform for instant cross-border retail payments by linking fast payment systems. India joins Malaysia, Philippines, Singapore, and Thailand a...
01 Jul, 2024, 04.42 PM IST- ADVERTISEMENT
PSBs clock higher failure rates for UPI payments In comparison, private players like HDFC Bank, Axis Bank, ICICI Bank, Yes Bank and IDFC First have an average UPI technical decline of 0.04%. Among private players, Bandhan Bank has seen technical declines of over 1%.
01 Jul, 2024, 11.23 AM ISTDon't leave your crease: ICICI Bank asks UPI users to follow cricket strategy to stay safe from frauds ICICI Bank issued a warning about rising fake UPI payment scams, urging caution through social media. They shared a video advising users to verify unexpected UPI notifications carefully to avoid scams where scammers claim to have sent too much money...
27 Jun, 2024, 10.48 AM ISTSBI to monetise subsidiaries after scaling up their businesses: Chairman Khara SBI Chairman Dinesh Kumar Khara stated that the bank plans to wait for its subsidiaries like SBI General Insurance and SBI Payment to enhance their operations before considering monetisation through the capital market to boost valuation and returns ...
16 Jun, 2024, 02.08 PM ISTAs Hyundai India eyes listing, here are some of nation's biggest IPOs Hyundai Motor's Indian business filed draft papers for a potential large IPO in India to enhance its brand image and increase liquidity.
15 Jun, 2024, 10.29 AM ISTInadequate tech at banks to blame for UPI downtimes RBI governor Shaktinata Das mentioned that downtime in the UPI payment system is primarily due to weak technology on the banks' side rather than issues from NPCI. The volume of UPI transactions per day exceeds 450 million, with several instances of ...
08 Jun, 2024, 01.11 AM ISTRBI sets up panel to track online payment frauds; AP Hota to head committee Along with Hota, representatives of NPCI, State Bank of India, HDFC Bank and ICICI Bank have been made members of the committee. The platform will establish operational guidelines for the proposed processes, determining the extent of data to be prov...
06 Jun, 2024, 07.05 PM ISTNPCI, Peru central bank ink pact to build UPI-like payments system The partnership makes Peru the first South American nation to adopt NPCI’s technology. It will enable BCRP to facilitate instant payments between individuals and businesses within Peru, and expand the usage of digital payments among the country’s la...
05 Jun, 2024, 08.34 PM ISTCashfree Payments appoints Abhaya Hota as independent director Abhaya Hota has previously served as an Independent Director at Federal Bank, NSE Clearing, Protean e-Gov Technologies and RBI Innovation Hub. Cashfree Payments plans to leverage Hota's experience and expertise to develop innovative products and ser...
04 Jun, 2024, 01.54 PM ISTUPI transactions set new record, scale 14 billion peak in May The Unified Payments Interface (UPI) network, operated by the National Payments Corporation of India (NPCI), has achieved a significant milestone by processing a record 14.04 billion transactions in May, surpassing the 13.3 billion transactions reco...
02 Jun, 2024, 12.13 AM ISTUPI transactions scale 14 billion peak in May The record high transactions come after a month-on-month dip in volumes in April to 13.3 billion, with the network dropping 1% from 13.44 billion in March. In May, the average daily transaction value was Rs 65,966 crore with average daily volumes at...
01 Jun, 2024, 10.40 PM ISTBanking frauds triple in the past fiscal year: RBI data The amount involved due to fraud in public banks was Rs. 10,507 crores, while private banks incurred losses of Rs. 3,107 crores. The number of frauds due to card and internet transactions shot up more than four times, with 29,000 cases being detecte...
01 Jun, 2024, 10.23 AM ISTTide enables bill payments for MSMEs to streamline expenses Tide’s Bill Payments are expected to help small businesses pay for a range of utilities such as electricity, gas, postpaid mobile and broadband bills.
28 May, 2024, 02.01 PM ISTApple not the only company to grapple with cash payments in India; cash also figures prominently in car sales With customers continuing to stream in with wads of notes to buy mobile phones or computers, payments for 7-9% of the American firm's sales in the two stores in India are made with cash, compared to less than 1% or even nil in its stores in the US o...
25 May, 2024, 05.30 AM ISTMaldives to launch India's RuPay service amid bilateral tensions Despite recent turbulence in bilateral relations, the Maldives is set to launch India's RuPay service, a move expected to strengthen the Maldivian Rufiyaa. Minister of Economic Development and Trade Mohamed Saeed highlighted the significance of the ...
23 May, 2024, 08.12 PM ISTPSBs ask US to route advisories via finance ministry Executives from some of the top lenders, including State Bank of India, Punjab National Bank and Canara Bank, met with a six-member US Treasury delegation last month. The discussions focused on Russian payments and a possible breach of the internati...
23 May, 2024, 12.52 AM ISTHSBC and StanChart step up GIFT City play, buy stakes in CCIL-IFSC "Being the global bank that we are, what we do, therefore, is connect India to the rest of the world and connect the rest of the world to India and GIFT is clearly onshoring what was happening offshore," HSBC India CEO Hitendra Dave told ET.
22 May, 2024, 06.07 AM ISTUPI’s rural push; India as software IPO destination Happy Wednesday! The country’s central bank wants more rural users to log into Unified Payments Interface (UPI). This and more in today’s ETtech Morning Dispatch.
15 May, 2024, 07.25 AM IST