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As per Minister of State for Finance Bhagwat Karad, in terms of volume, UPI increased at a CAGR of 147% from 92 crore in FY 2017–18 to 8,375 crore in FY 2022–2023. At a CAGR of 168%, the value of UPI transactions increased from ₹1 lakh crore in FY 2017–18 to ₹139 lakh crore in FY 2022–23. With UPI representing 62% of digital payment ...
Due to RBI efforts and the Board for Regulation and Supervision of Payment and Settlement Systems (BPSS), now over 75% of all transaction volume is electronic, including both large-value and retail payments. Out of this 75%, 98% come from the RTGS (large-value payments) whereas a meager 2% come from retail payments.
Instant payment (sometimes referred to as real-time payment or faster payment) is a method of electronic funds transfer, allowing for almost immediate transfer of money between bank accounts. This was in contrast to the previous transfer times of one to three business days that had been in place until the mid-2010s. [1]
National Payments Corporation of India (NPCI) announced the transactions of Aadhaar Enabled Payment System (AePS) for the month of July 2019 have crossed the milestone number of 200 million. AePS is a bank-led model which allows basic interoperable banking transactions at PoS (MicroATM) through the Business correspondent of any bank by using ...
Messi the Border Collie has been taking Hollywood by storm ever since his starring role in the 2023 film Anatomy of a Fall. The four-legged French actor has more skills than his owner and trainer ...
September 4, 2024 at 3:30 PM. A disgraced New York City urologist who was convicted of sexually abusing patients under the guise of medical care for years, is now being sued by over 300 former ...
BHIM (Bharat Interface for Money) is an Indian state-owned mobile payment app developed by the National Payments Corporation of India (NPCI), based on the Unified Payments Interface (UPI). Launched on 30 December 2016, [1] it is intended to facilitate e-payments directly through banks and encourage cashless transactions.
By January 2023, though, the U.S. government announced it was ending its public health emergency for mpox, citing a significant decline in cases.