India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
New Delhi, July 11 (UNI) A latest note titled 'Growing Retail Digital Payments: The Value of Interoperability' presented by International Monetary Fund (IMF) highlighted India as a global leader in making fastest payments which is due to the adoption of UPIs or Unified Payment Interface by a wide number of masses. This report is authored by Alexandar Copestake, Divya Kirti, and Maria Soledad Martinez Peria. The global economic watchdog also stressed the transition from cash to card-based transactions to UPI or Unified Payments Interface since its launch in 2016. Unified Payments Interface is a real-time payment system developed by NPCI (National Payments Corporation of India) that enables smooth money transfers. The IMF also observed that the UPI adoption is increasing in rural areas with the reduction in ATM (Automated Teller Machine) money withdrawals. Authors at the IMF have also urged Indian policymakers to monitor the markets of digital payments in India and give opportunities to new key emergent players. This report also pointed to the favourable digital payments interface in India despite a slight dip of 1.5% in June compared to May 2025. Soaring digital transaction volume is highlighting the significant expansion of India's digital payment infrastructure. IMF researchers used granular data to cover the realm of transactions on India's Unified Payments Interface. UNI SAS PRS
New Delhi, Dec 14 (IANS) The Unified Payments Interface (UPI) has achieved 15,547 crore transactions worth Rs 223 lakh crore from January to November this year, 'showcasing its transformative impact on financial transactions' in India, the Finance Ministry said on Saturday. The Finance Ministry also said that UPI is now accepted in seven countries including France, UAE, Singapore, Sri Lanka, Mauritius, Bhutan and Nepal. The UPI system provides a cheaper and quicker alternative to the available channels of cross-border remittances. UPI has succeeded in increasing financial inclusion and promot ...Read More >
Bengaluru : India's digital commerce landscape is undergoing a seismic transformation, driven by deep rural internet penetration, explosive growth in Direct-to-Consumer (D2C) brands, and the rapid adoption of Artificial Intelligence (AI) in the retail sector. According to the Made for Bharat, Powered by AI: The New Age of Commerce Report by Shiprocket and KPMG, with 886 million active internet users 55% from rural India and UPI accounting for 84% of all retail digital payments, Bharat is not just catching up; it's driving the change. The report was launched today at Shiprocket's flagship comme ...Read More >
BHUBANESWAR: Union minister of state (independent charge) for Science and Technology, Personnel, Public Grievances and Pensions Dr Jitendra Singh on Thursday said the Centre would soon roll out a new scheme focusing exclusively on agriculture and allied sectors in 100 districts across the country. Addressing the two-day national conference on good governance here, Dr Singh said, the first-of-its-kind Prime Minister Dhan-Dhaanya Krishi Yojana (PM-DDKY) draws inspiration from NITI Aayog's aspirational district programme and aims at enhancing adoption of crop diversification and sustainable agri ...Read More >
The Enforcement Directorate conducted multi-state searches across 15 locations, including Mumbai and Delhi-NCR, as part of a money laundering investigation. This probe targets the Parimatch betting app, accused of defrauding users of approximately Rs 2,000 crore. The funds were allegedly laundered through mule accounts, payment aggregators, crypto wallets, and ATM withdrawals. The Enforcement Directorate (ED) on Tuesday conducted multi-state searches as part of a money laundering investigation i ...Read More >
Bengaluru : As generative AI becomes essential to business operations, organizations are being forced to rethink outdated infrastructure models, finds a new IDC research paper commissioned by Akamai Technologies (NASDAQ: AKAM), the cybersecurity and cloud computing company that powers and protects business online. According to the research paper titled "The Edge Evolution: Powering Success from Core to Edge," Asia-Pacific (APAC) enterprises are realizing that centralized cloud architecture alone is unable to meet the increased demands of scale, speed, and compliance. It is crucial that busines ...Read More >
With uncertainty becoming a defining feature of the global landscape, the role of banks has become much more critical not just as custodians of savings but also as engines of growth, Finance Minister Nirmala Sitharaman said on Thursday. She noted that financial institutions play a crucial role in national infrastructure building and banks must maintain strong balance sheets to fund significant investments, meet the demand for credit, and provide innovative financial products and capital expenditu ...Read More >
New Delhi, July 7 (SocialNews.XYZ) Fintech companies should leverage their strengths and innovation by not only extending financial services to the masses but also to develop robust solutions against fraud, hacking, and other cyber threats -- making greater use of emerging technologies like artificial intelligence (AI), a top government official said on Monday. With the country's digital payments ecosystem rapidly maturing, its influence has begun to extend beyond national borders, reaching Global South, said Nagaraju Maddirala, Secretary, Department of Financial Services (DFS). Addressing t ...Read More >
MUMBAI: ICICI Bank has rolled back its rule requiring new savings accounts opened after Aug 1 to maintain a monthly average balance (MAB) of Rs 50,000 and has revised the threshold to Rs 15,000. The move follows a social media backlash against the higher balance requirement, which was criticised for making banking exclusive.The bank said it has revised its schedule of charges and MAB requirements following customer feedback. The changes do not apply to salary accounts, senior citizens above 60 years, basic accounts/PM Jan Dhan Yojana accounts, or those opened before July 31, 2025.Meanwhile, HD ...Read More >
Mumbai, September 15: The National Payments Corporation of India (NPCI) has raised the Unified Payments Interface (UPI) transaction limits for person-to-merchant (P2M) payments to up to Rs 10 lakh in 24 hours for specified categories, effective from Monday. The move seeks to facilitate larger payments in key sectors and enhance digital adoption in high-value segments. The NPCI maintained the person-to-person (P2P) limit at Rs 1 lakh per day. Earlier users often encountered restrictions, forcing them to split payments or revert to traditional methods like cheques or bank transfers. Under the r ...Read More >
New Delhi: The National Payments Corporation of India (NPCI) has increased the UPI daily limit for person-to-merchant (P2M) payments to Rs 10 lakh, starting from Monday. This move is aimed at helping people make larger payments through UPI in sectors like insurance, loans, investments, and travel, where higher transaction amounts are often required. The person-to-person (P2P) UPI payment limit remains unchanged at Rs 1 lakh per day. Where Can You Use the Higher Limits? The updated UPI rules now allow users to pay up to Rs 10 lakh per day in certain categories. For example, if you are paying ...Read More >
New Delhi, October 1: Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday reiterated that the central bank has no proposal to impose a fee on transactions done through Unified Payments Interface (UPI). The governor's clarification came during his address after the post-Monetary Policy Committee (MPC) meeting. Malhotra stated that he had never said UPI could stay free forever, but he noted that someone needs to bear the costs associated with its functioning. "What I said was there are costs associated with UPI transactions, and the same need to be paid for by someone," the govern ...Read More >
MUMBAI: Reserve Bank Governor Sanjay Malhotra, who had earlier stated that UPI cannot remain free forever and that someone else is now paying for it, on Wednesday said the digital payment app will remain a zero-cost platform to encourage its wider adoption. "Currently, we have no proposal to impose any charges on UPI transactions," Governor Malhotra said during the customary post-policy presser in response to a question from the press. Addressing concerns about possible charges on digital payments, he clarified that "UPI will continue to remain free for users under present policy." This com ...Read More >
New Delhi, Jun 6 (PTI) PhonePe on Friday said it has acquired the IP of GSPay -- a proprietary technology stack from conversational engagement platform Gupshup -- to enable UPI-based payments on new feature phones. The company in a statement said it plans to customise the stack and launch its own UPI payment app for new feature phones in India in the next few quarters. The new app will offer essential UPI features such as peer-to-peer transfers, offline QR payments, and receiving money via mobile numbers or self-QR codes. Industry research indicates that there were over 24 crore feature pho ...Read More >
New Delhi, Jun 6 (PTI) PhonePe on Friday said it has acquired the IP of GSPay -- a proprietary technology stack from conversational engagement platform Gupshup -- to enable UPI-based payments on new feature phones. The company in a statement said it plans to customise the stack and launch its own UPI payment app for new feature phones in India in the next few quarters. Also Read | How To Activate Your UAN Online? Step-by-Step Guide As EPFO Extends Activation Deadline to June 30, 2025. The new app will offer essential UPI features such as peer-to-peer transfers, offline QR payments, and rece ...Read More >
Walmart-owned e-commerce major Flipkart is leaning heavily into social video and livestreaming to attract young shoppers who are glued to their smartphones. The move reflects a broader strategy of the company to seek long-term customer loyalty by making online shopping more immersive and interactive. Online shopping with live commerce Using videos to display and promote products has become one of the company's key new strategies, Neha Agrahari, a director at Flipkart told Bloomberg News. "Users ...Read More >
New Delhi, Jul 15 (PTI) The Indian economy is expected to grow at 6.5 per cent in the current financial year, despite geo-political tensions and trade policy uncertainties, Economic Advisory Council to the Prime Minister (EAC-PM) Chairman S Mahendra Dev said on Tuesday. In an interview with PTI, Dev further said that domestic growth will be driven by low inflation, resulting from good monsoon and benign interest rate regime, triggered by three back-to-back rate cuts by the Reserve Bank of India. "There are significant global headwinds like the twin shocks of geo-political tensions and trade ...Read More >
New Delhi, July 17: In a major move that could bring relief to over 7 crore Employees' Provident Fund Organisation (EPFO) members, the Centre is reportedly considering a proposal to allow full or partial withdrawal of EPF savings after 10 years of service. According to a Moneycontrol report, the retirement fund body has floated this idea to address the needs of those who wish to exit the formal workforce earlier than the official retirement age of 58. Currently, EPF members can withdraw their full balance only upon retirement or after remaining unemployed for over two months. However, many in ...Read More >
Bank holidays in India vary from one region to another. They differ from one state to the next and are often influenced by local festivities, religious events, and regional festivals. Many people in India are unsure about bank holidays. Reserve Bank of India states banks are closed on the second and fourth SaturdaysWith a busy work schedule, many individuals push their bank related work to Saturday to visit the branch and finish transactions. However, it is always confusing to know if this Saturd ...Read More >
New Delhi, June 28 (SocialNews.XYZ) The Ministry of Power has announced the launch of a task force to conceive the India Energy Stack, a pioneering initiative aimed at creating a unified, secure, and interoperable digital infrastructure for the country's energy sector. The India Energy Stack will play a vital role in integrating renewable energy, enhancing DISCOM efficiency, and delivering transparent, reliable, and future-ready power services, the official statement said. As India charts its path to becoming a $5 trillion economy and advances towards its Net Zero commitments, the power sect ...Read More >
DHARMAPURI: For the third time in the past two months, a wild leopard wandered into a private farmland near Valaithottam village near Palacode and hunted chicken raised by a local farmer. Locals are increasingly distressed and urged the forest department to take steps to relocate the leopard. Over the past few months, there have been several reports of leopard sightings in forest areas near Palacode, particularly in Valaithottam village, near the forest's fringe. There have been two instances when the leopard attacked farmlands, taking away a domestic dog and a chicken. On Saturday, the leop ...Read More >
New Delhi, Jul 18 (PTI) The Supreme Court has said money cannot be recovered by filing an FIR and seeking help of police as it quashed a cheating case against the producer of Bollywood movie "Tanu Weds Manu". A bench of Justices J B Pardiwala and R Mahadevan expressed displeasure over the approach of the Allahabad High Court in dealing with the petition of producer Shailesh R Singh for quashing of the FIR against him by complainant Kunal Jain. "Money cannot be recovered, more particularly, in a civil dispute between the parties by filing a first information report and seeking the help of the ...Read More >
Patna, Aug 1 (PTI) Healthcare services were affected at AIIMS-Patna on Friday as resident doctors went on an "indefinite strike" in protest against the alleged high-handedness of Sheohar MLA Chetan Anand. According to a press statement issued by the Resident Doctors' Association (RDA), AIIMS-Patna, on Friday, "The RDA expresses deep disappointment and anguish over the lack of action by the administration following the violent and traumatic incident that occurred on Wednesday, when MLA Chetan Anand, his wife and their armed guards breached hospital security, physically assaulted staff, and thr ...Read More >
Mumbai, October 7 : The government on Tuesday announced several new offerings like UPI with on-device biometric authentication for a seamless, secure and user-friendly alternative to PIN-based UPI authentication, Aadhaar-based face authentication in UPI to enable Aadhaar-linked biometric authentication for setting or re-setting UPI PIN, and the addition of a new mode for cash withdrawal through micro-ATMs using UPI at UPI cash points. The Secretary, Department of Financial Services, Ministry of Finance, Shri M. Nagaraju, IAS, today announced the launch of three new digital feature offerings a ...Read More >
Chennai (Tamil Nadu) [India], August 20: AssetPlus, India's leading digital platform for Mutual Fund Distributors (MFDs), today announced the launch of UPI AutoPay for Systematic Investment Plans (SIPs) through an integration with the Bombay Stock Exchange (BSE). This new capability allows investors to authorise recurring payments directly from their preferred UPI app, marking a significant leap towards faster, more convenient, and more transparent SIP mandate registration. Also Read | Who is Mateo Silvetti? Meet the 19-Year-Old Footballer Who Has Joined Lionel Messi's Inter Miami From Star A ...Read More >
New Delhi, August 29: Financial services major Paytm on Friday clarified that Google Play's recent notification on unified payments interface (UPI) handle changes was incomplete and may have created confusion. The company emphasised that there is no disruption to UPI payments on Paytm and both consumer and merchant transactions remain seamless. The update is relevant only for recurring payments such as subscription billing. "This means that if a user was paying for YouTube Premium or Google One storage or to any recurring platform through Paytm UPI, they will simply need to change their old @ ...Read More >
Mumbai, September 27: Banks will be closed for more than 15 days in October 2025 as the 10th month of the 25th year of the 21st century is packed with major festivals such as Dussehra, Diwali, Chath Puja and Durga Puja. During October, several states will observe bank holidays due to regional festivals in addition to national holidays. According to the Reserve Bank of India (RBI), banks across the country will stay shut for a total of 15 days in October. The October bank holiday of 15 days excludes all Sunday holidays when banks remain closed for business. As per the RBI list, banks will stay ...Read More >
Bengaluru, 29 September 2025: Axis Bank, one of the largest private sector banks in India, in collaboration with Freecharge, has unveiled Credit on UPI with Gold Loans - India's first gold-backed credit line accessible through the Unified Payments Interface (UPI). This innovative product is designed to unlock the economic potential of gold assets, especially for micro, small and medium enterprises (MSMEs), self-employed entrepreneurs and merchants across both urban and rural India. Credit on UPI with Gold Loans enables customers to access instant credit against their gold holdings. The produc ...Read More >
New Delhi [India], July 2 (ANI): The Department of Telecommunications (DoT) welcomes the Reserve Bank of India's (RBI) advisory, directing all Scheduled Commercial Banks, Small Finance Banks, Payments Banks, and Co-operative Banks to integrate the Financial Fraud Risk Indicator (FRI) developed by DoT into their systems. The Ministry of Communications stated in a release that the advisory marks a watershed moment in the fight against cyber-enabled financial frauds and serves as a testament to the power of inter-agency collaboration in safeguarding citizens in India's growing digital economy. ...Read More >
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Ripple is taking another bold step toward mainstream finance by extending the reach of its Interledger Protocol into the SWIFT network, regarded as the backbone of global payments. By enabling interoperability between two of the most influential payment ecosystems, Ripple is positioning XRP as a key player in the future of international money movement. The strategy for mainstream adoption of the XRP Ledger (XRPL) and its native asset, XRP, is intricately linked to the Interledg ...Read More >
Starting October 8, India will allow users to authenticate Unified Payments Interface (UPI) transactions through facial recognition and fingerprints, using Aadhaar-based biometric data, sources said. The move follows new RBI guidelines permitting alternative authentication methods and replaces the current PIN-based system. The NPCI plans to showcase the feature at the Global Fintech Festival in Mumbai. India will allow users to approve payments made through popular domestic payments network, the ...Read More >