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After RBI's action against Paytm Payments Bank, several banking and fintech companies have brought out ads harping on the concept of trust, an essential attribute in all financial products. ....
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Paytm Payments Bank is facing a decline in app downloads after the Reserve Bank of India issued an order restricting the bank from accepting fresh deposits or top-ups. Competitors such as PhonePe, Google Pay, and BHIM app have seen an increase in app downloads since the order. ....
The value of UPI transactions has seen a considerable rise, from Rs 1 lakh crore in FY 2017-18 to Rs 139 lakh crore in FY 2022-23, marking a CAGR of 168%. ....
The Reserve Bank of India increased on Friday the unified payments interface's transaction limit to Rs 5 lakh for specific categories.
The transaction limit has been increased from Rs 1 lakh to Rs 5 lakh for payments made to hospitals and educational institutions, Governor Shaktikanta Das said in his monetary policy statement.
The regulator has also proposed enhanced e-mandates for recurring online transactions and additional factor authentication.
The central bank has proposed to enhance the current limit of Rs 15,000 to Rs 1 lakh for transactions related to mutual fund subscriptions, insurance premium subscriptions and credit card repayments. ....