The volume of UPI (Unified Payments Interface) transactions continues to rise month after month as the total monthly transaction amount touched ₹18.23 lakh crore in Dec last year, 54 percent higher than the corresponding data of 2022.
In terms of the number of transactions, the figure reached 12.02 billion, witnessing 42 percent higher than the previous year figure.
HDFC Bank has executed transactions via the NPCI's UPI payments app as part of the 'UPI for secondary market' facility, which which went live.
The move follows markets regulator Sebi allowing the facility through the UPI app developed by the National Payment Corporation of India (NPCI).
Clearing corporations will directly process payouts to these clients on a T+1 basis.
Transactions through the unified payments interface (UPI) platform crossed the 100 billion-mark in calendar year 2023 to close at around 118 billion, as per the data shared by the National Payments Corporation of India (NPCI).
This marks a 60 percent growth as compared to 74 billion UPI transactions recorded in 2022.
Visa,the world's largest card network, processes an average of 750 mn. transactions/day.
The Reserve Bank of India proposed allowing banks having net non-performing assets (NPAs) ratio of less than 6 per cent to declare dividends.
As per the prevailing norms last updated in 2005, banks need to have a NNPA ratio of up to 7 per cent to become eligible for declaration of dividends.
RBI has proposed that the new guidelines should come into effect from FY25 onwards.
The Reserve Bank of India (RBI), cancelled the licence of "The Faiz Mercantile Cooperative Bank Ltd., Nashik, Maharashtra.
The bank does not have adequate capital and earning prospects. As such, it does not comply with the provisions of Section 11(1) and Section 22 (3) (d) read with Section 56 of the Banking Regulation Act, 1949.
The Reserve Bank of India (RBI) has decided to enhance the bulk deposit limit for large urban co-operative banks (UCBs) to ₹1 crore and above from the current ₹15 lakh and above.
Specifically, the new bulk deposit limit applies to UCBs in the Tier 3 (with deposits more than ₹1,000 crore and up to ₹10,000 crore) and Tier 4 (with deposits more than ₹10,000 crore) categories.
Australian batter David Warner has announced his retirement from One Day Internationals (ODIs). The 2 time ODI World Cup Winner had previously announced that he would be ending his Test career after Australia's upcoming Test against Pakistan in Sydney. However, the opener has said that he will keep himself available for selection in the Champions Trophy in 2025.
The Telecommunication Engineering Centre TEC of Department of Telecommunications DoT has brought 37 more products under Simplified Certification scheme SCS.
These products include media gateway, IP security equipment, IP terminals, optical fibre or cable, transmission terminal equipment, etc. With this, the total products under SCS have now gone up to 49 from 12.
Chaudhary Charan Singh Haryana Agricultural University's Vice Chancellor Prof. B.R. Kamboj has been honoured with the prestigious M.S. Swaminathan Award in recognition of his contributions as a scientist and extension specialist in the field of agronomy. Thawar Chand Gehlot, the Governor of Karnataka, presented him this award.
The Competition Commission of India (CCI) has approved the proposed acquisition of 100% shareholding of GVK Power (Goindwal Sahib) Limited by Punjab State Power Corporation Ltd. The PSPCL, a fully owned entity of the Punjab government, is set to acquire 100% shareholding of the power generation company.
PNB Housing Finance, a housing finance company, said that India Ratings and Research (Ind-Ra) has upgraded the rating of the company’s non-convertible debentures (NCDs) to ‘IND AA+’ from ‘IND AA’ with stable outlook. Further, Ind-Ra said that NCDs limit has been split into bank loans and NCDs and ‘IND AA+’ rating has been assigned to the bank loans.
Jammu and Kashmir has become the first Union Territory (UT) to implement the PM Vishwakarma Yojana (PMVY), an initiative that aims to empower and enhance the skills of the craftsman community, officials said. The inauguration of the training programme for the first batch of 30 trainees (Viswakarmas) in 'darzi craft' was virtually conducted.