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The Reserve Bank of India and the State Bank of Vietnam signed a Memorandum of Understanding on May 5, 2026, to collaborate on digital payments and financial innovation. This initiative aims to enhance cross-border QR code-based payment systems and strengthen India's position as a fintech hub. The agreement
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The Unified Payments Interface (UPI), launched in 2016 by the National Payments Corporation of India under the Reserve Bank of India, marks its 10th anniversary. UPI has grown exponentially, now processing over 24,162 crore transactions annually and exceeding a value of ₹314 lakh crore in FY 2025-26. With participation
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The Ministry of Finance's Department of Financial Services has released a report titled "Socio-Economic Impact Analysis of the Incentive Scheme for Promotion of RuPay Debit Card and low-value BHIM-UPI Transactions (P2M)". This report assesses the effectiveness of incentive schemes in promoting digital payments in India. Conducted
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Shri M. Nagaraju, Secretary of the Department of Financial Services in the Ministry of Finance, led a pivotal meeting in New Delhi focusing on a strategic plan for Financial Inclusion 2.0. The event brought together senior officials from various government and financial institutions to discuss key objectives including universal
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India and the European Union have successfully concluded negotiations on a Free Trade Agreement concerning financial services. This marks a crucial development in the economic and strategic partnership between the two regions. The agreement features innovative provisions on digital payments, fintech collaboration, and includes enhanced market access and regulatory frameworks.
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In 2025, the Department of Financial Services (DFS) undertook significant financial reforms, focusing on financial inclusion, banking sector health, digital payments, and key policy initiatives. Building on successful past programs, DFS introduced EASE 8.0 (EASE₹ise) targeting Risk & Resilience, Innovation, Socioeconomic Impact, and Excellence. The department's
G20 Summit
During the G20 Summit, the Prime Minister emphasized the need for a human-centric approach to technology and AI, advocating for equitable access, responsible deployment, and global cooperation. He highlighted India's leadership in digital payments and announced the upcoming AI Impact Summit in February 2026, inviting G20 nations to
Digital Payments
The Government of India has amended the National Highways Fee Rules to incentivize digital payments at toll plazas for non-FASTag users. Starting November 15, 2025, vehicles without a valid FASTag will incur a fee of twice the applicable user fee if paid in cash, while payments made via UPI will
UPI
Union Minister Shri Jyotiraditya Scindia launched the UPI–UPU Integration project at the 28th Universal Postal Congress in Dubai, aimed at transforming cross-border remittances. India committed USD 10 million to enhance the global postal sector and announced its candidacy for two key UPU councils. The initiative integrates India's
UPI
Union Minister Jyotiraditya Scindia launched the UPI–UPU Integration project at the 28th Universal Postal Congress in Dubai, aiming to enhance cross-border remittances. India committed $10 million to support global postal innovation and announced its candidacy for two key UPU councils. Scindia emphasized the importance of integrating technology with public
Public Sector Banks
The Ministry of Finance has implemented various reforms to enhance credit discipline in Public Sector Banks (PSBs) and improve credit flow to Micro, Small, and Medium Enterprises (MSMEs). Key measures include the enactment of the Insolvency and Bankruptcy Code (IBC), the establishment of a Central Repository for monitoring corporate loans,
Crop Insurance
On August 11, 2025, a significant event for farmers' safety and crop insurance claim payments will take place in Jhunjhunu, Rajasthan, led by Union Agriculture Minister Shivraj Singh Chouhan. Over ₹3,200 crore will be digitally transferred to more than 30 lakh farmers under the Pradhan Mantri Fasal Bima