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Paytm’s UPI Market Share Drops for Fourth Consecutive Month to 8% in May

Paytm's share of India's Unified Payments Interface (UPI) market has fallen for the fourth consecutive month, reflecting the company's ongoing struggles following a significant...

RBI Maintains Key Interest Rates Amid Inflation Concerns

The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) has once again decided to keep the key interest rates unchanged, continuing its cautious...

RBI and NIPL to Expand UPI to 20 Countries by FY29

The Reserve Bank of India (RBI) and NPCI International Payments Limited (NIPL) are embarking on an ambitious project to extend the reach of the...

97.82% of Rs 2,000 Banknotes Returned to Banking System, Says RBI

The Reserve Bank of India (RBI) announced that an impressive 97.82% of the Rs 2,000 denomination banknotes have been returned to the banking system....

137% Surge in UPI Transactions Amid Growing Concerns Over Fraud, Reveals RBI Report

In a stark revelation, the Reserve Bank of India (RBI) has disclosed a staggering surge in digital payment fraud, soaring to an unprecedented 14.57...

Gross GST Revenue Collection in May Records 10% Year-on-Year Growth

The gross Goods and Services Tax (GST) revenue for the month of May 2024 stood at ₹1.73 lakh crore. This represents a 10% year-on-year...

UPI Dominates Digital Payments in FY24 with Record Growth: RBI Report

Unified Payments Interface (UPI) accounted for nearly four out of five digital payments in India during the financial year 2024 (FY24), according to the...

RBI Shifts Strategy to Limit Rupee Volatility with Non-Deliverable Forwards

The Reserve Bank of India (RBI) is altering its approach to managing rupee volatility by increasingly utilizing non-deliverable forwards (NDFs) over traditional spot market...

RBI Directs Non-Bank Lenders to Adhere to Cash Payout Limit for Loans

India's Reserve Bank, in a recent move, cautioned non-bank lenders against surpassing the permissible limit of ₹20,000 ($240) for cash loans, aiming to curb...

Banks Poised to Boost Productivity and Revenue with Generative AI Integration: Report

In a recent analysis conducted by IT giant Accenture, the potential impact of Generative Artificial Intelligence (GenAI) on the banking sector has been unveiled,...

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