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The Maldives and India have launched a new cross-border payment service enabling real-time fund transfers from the Maldives to UPI-enabled accounts in India, marking a significant step in digital financial connectivity. Source: Original Link
news
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 International Monetary Fund (IMF) has recognized India's Unified Payments Interface (UPI) as the largest real-time payment system globally, accounting for 49% of transaction volume. Reports depict UPI's competitive edge over systems in countries like Brazil and Thailand. Efforts like the Payments Infrastructure Development Fund (PIDF)
UPI
The Ministry of Education in India is encouraging the adoption of Unified Payments Interface (UPI) in schools to enhance the ease of schooling and modernize financial transactions. This initiative aims to transition from cash-based payments to digital methods, providing convenience and transparency for parents and students. The move aligns with
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
technology
Prime Minister Narendra Modi shared an article by Union Minister Ashwini Vaishnaw highlighting how technology has empowered various sectors in India, from street vendors to corporate executives. He emphasized initiatives like India Stack, UPI, JAM trinity, and CoWIN that have transformed lives, improved governance, and enhanced India's global
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
India
Prime Minister Narendra Modi shared an article by Union Minister Jyotiraditya M Scindia, emphasizing India's advancements in affordable broadband, UPI, and digital governance. Modi noted that these developments are now considered a global case study and expressed confidence that India will lead in the upcoming waves of 5G,
Digital Payments
The Indian digital payment landscape has seen over 65,000 crore transactions amounting to more than Rs. 12,000 lakh crore in the last six financial years. The government, in collaboration with various stakeholders, has worked to enhance digital payment adoption, especially in underserved areas. Initiatives like the Payments Infrastructure
Inward Remittances
The Department of Posts and NPCI International Payments Limited have signed a Non-Disclosure Agreement to transform inward remittances to India. This collaboration will utilize the Unified Payments Interface (UPI) and the Universal Postal Union (UPU) Interconnection Platform to create a secure, affordable remittance channel for the Indian diaspora. Key benefits
Digital Payments
The Digital Payments Awards ceremony, hosted by the Ministry of Finance in New Delhi, recognized the achievements of banks and fintechs in enhancing India's digital payments ecosystem. Union Finance Minister Nirmala Sitharaman announced that India achieved an 80% financial inclusion rate in just 6 years, a feat that