The National Payments Corporation of India (NPCI) has extended the deadline for implementing transaction volume cap on Unified Payments Interface (UPI) apps by two years till December 31, 2026. This is the second time that the NPCI has extended this deadline.
The latest development is expected to provide a much-needed relief to market leaders PhonePe and Google Pay, which process the lion's share of UPI transactions in the country. The two processed about 47.8 per cent and 37.02 per cent of UPI transaction volumes, respectively, in November, according to data published by NPCI.
The apex payments body, "considering various factors", extended the timeline for compliance of existing third-party application providers (TPAPs) by another two years. This comes at a time when the real-time payments system has seen euphoric growth in terms of transaction volumes.
هذه القصة مأخوذة من طبعة January 01, 2025 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة January 01, 2025 من Business Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
THE LONG ROAD TO DATA PROTECTION
The DPDP Act comes with a long gestation period. What does that mean for its efficacy?
Tata Punch tops '24 sales charts, ends Maruti's 40-year reign
For the first time in four decades, a non-Maruti Suzuki India car has topped the list of India's best-selling cars. In 2024, the Tata Punch, a sub-compact sport utility vehicle (SUV), became the highest-selling vehicle by delivering 202,030 units.
Isro marks milestone as cowpea seeds take root in space
Cowpea seedlings onboard PSLV-C60 POEM-4 module sprout their first leaves in space, signifying a milestone in space-based plant research, Isro said on Monday.
India reports 5 HMPV cases; govt says no need to panic
India on Monday reported at least five cases of Human Metapneumovirus (HMPV), which causes respiratory illness and was recently identified in China and Malaysia.
US 30-Year Bond Yield Highest Since 2023
US Treasuries slumped, lifting the yield on 30-year bonds to the highest since late 2023, as a rattled market prepares for $119 billion of fresh government debt issuance this week.
Indian Bond Index Inflows May Lag Estimates: Morgan Stanley
Indian bonds included last year in a key global benchmark will fail to draw as much money as previously estimated, according to Morgan Stanley.
Select factor fund based on conviction, risk appetite
Ajay Singh (name changed on request), a 35-year-old Noida-based lawyer, plans to invest in factor (or smart-beta) funds in 2025.
Jubilant FoodWorks Hits 52-Week High
Brokerages Offer Mixed Outlook After Strong Q3 Showing
Quadrant Future Tek secures ₹131 cr from anchor investors
Quadrant Future Tek on Monday garnered ₹130.5 crore from anchor investors ahead of its initial public offering (IPO).
Sebi Eases Fund Settlement Norms for Dormant A/Cs
The Securities and Exchange Board of India (Sebi) on Monday relaxed settlement norms for brokerage accounts remaining inactive for more than 30 days.
