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UPI clocked its biggest month in May, transactions surpass Rs 29.90 lakh crore
India's digital payments network continued its rapid expansion in May, with Unified Payments Interface (UPI) transactions climbing to their highest-ever monthly levels in both value and volume, latest data from the National Payments Corporation of India (NPCI) showed. During the month, UPI handled 23.2 billion transactions worth Rs 29.90 lakh crore, surpassing the previous month's figures of 22.35 billion transactions and Rs 29.03 lakh crore. This reflects a 19% gain as compared to...
Fair Distribution of Digital Payments: Balancing Transaction Flows for Regulatory Compliance
Announce Type: replace Abstract: The concentration of digital payment transactions in just two UPI apps like PhonePe and Google Pay has raised concerns of duopoly in India s digital financial ecosystem. To address this, the National Payments Corporation of India (NPCI) has mandated that no single UPI app should exceed 30 percent of total transaction volume. Enforcing this cap, however, poses a significant computational challenge: how to redistribute user transactions across apps without...
'We're children of the same rivers': Nepal calls on India to 'discuss dormant ties'
Nepal's foreign minister Shisir Khanal on Sunday emphasised on a stronger development-oriented partnership with India while also calling for the revival of dormant bilateral mechanisms and the resumption of high-level political exchanges between the two neighbours. Addressing a media briefing during his three-day visit to India, Khanal highlighted the deep historical and cultural links between the two countries, describing Nepal and India as more than just geographical neighbours. "We're not...