The Ministry of Electronics and Information Technology (MeitY) has signed a Memorandum of Understanding (MoU) with PhonePe for a partnership to provide granular digital transaction insights for the government’s PM GatiShakti infrastructure planning framework. The initiative aims to give planners a clearer view of economic activity
India’s UPI (Unified Payments Interface) transaction volumes in July 2026 rose 22% year-on-year to a record 23.66 billion. As per the data shared by the National Payments Corporation of India (NPCI), the total value of payments touched an all-time high of ₹29.88 lakh crore. The latest figures
As India races towards a cashless future, do you think digital fraud is becoming the biggest threat to the country's digital economy? India’s digital payments ecosystem has become one of the most advanced in the world. From Unified Payments Interface (UPI) transactions and mobile wallets to
India’s largest lender, the State Bank of India (SBI), has reported banking frauds worth more than ₹6,300 crore over the past three years, highlighting the growing challenge of digital financial crime in the country’s rapidly expanding payments ecosystem. The disclosure comes at a time when digital
India’s banking sector is widening digital access for Employees’ Provident Fund Organisation (EPFO) payments. As more lenders add EPFO services to their online banking platforms, it is important to simplify contribution payments for employers and businesses. The move comes amid the government’s broader push to modernise provident
Digital payments major PhonePe has rolled out a new artificial intelligence (AI) tool. They aim to reduce the time required for internal processes significantly. Once implemented, the tool will reduce workflows that previously took weeks to just a few minutes. The company’s expanding focus on automation
The National Highways Authority of India (NHAI) has issued a clear warning to vehicle owners: failing to properly affix your FASTag on the windscreen could lead to serious consequences, including potential blacklisting. FASTag, India’s electronic toll collection system, relies on Radio Frequency Identification (RFID) technology
A phone call that sounds like your boss. A video that looks real. A payment request that feels routine. In many recent fraud cases in India, all three have turned out to be fake, generated or enhanced using artificial intelligence. Cyber fraud in India is no
Nearly three out of four users in India say they would abandon the Unified Payments Interface (UPI) if transaction fees were introduced, according to a recent LocalCircles survey—highlighting just how sensitive the country’s digital payments ecosystem is to pricing changes. Read More | Fintech India Innovation
Google Pay has rolled out a new feature called Pocket Money under its UPI Circle framework, aimed at making digital payments more accessible for people who may not have their own bank accounts. The feature is designed for dependents such as children, elderly family members,